Despite the significant growth in trade between Turkmenistan and Bulgaria, there is untapped potential for further economic cooperation. This was the focus of a recent meeting between Turkmenistan's Ambassador Esen Aydogdiyev and Bulgarian Minister of Economy and Industry Petko Nikolov. According to Bulgaria's Ministry of Economy and Industry, bilateral trade has surged this … [Read more...]
Turkmenistan’s Ambassador to Bulgaria Presents Credentials
On 17 September 2024, Ambassador of Turkmenistan Esen Aydogdiyev (residence in Moscow) presented copies of credentials to Deputy Minister of Foreign Affairs of Bulgaria Elena Shekerletova. During the meeting, Deputy Minister Shekerletova emphasized the importance of Bulgaria's friendly and constructive relations with Turkmenistan, a key partner in Central Asia and the … [Read more...]
President Serdar Berdimuhamedov met with German businessmen – The promising areas of the Turkmen-German partnership outlined
On 17 September 2024, in Astana, President of Turkmenistan Serdar Berdimuhamedov met with representatives of German business circles. During the meeting, the head of state announced several projects in which Turkmenistan is seeking proposals from German partners. Transport In the transportation and communications sectors, Turkmenistan is open to exploring the use of … [Read more...]
Kazakh-German summit talks in Astana – Kazakhstan and Germany are implementing investment projects worth $55 billion
On 16 September 2024, President of Kazakhstan Kassym-Jomart Tokayev and Federal Chancellor of Germany Olaf Scholz had summit talks in Astana. Tokayev called Scholz's visit historic, as it is the first visit of the head of the German Government to Kazakhstan in the last 14 years. As Tokayev noted, Germany is one of Kazakhstan's main trading partners and top … [Read more...]
Embassy of Kyrgyzstan in Turkmenistan conducts briefing for diplomats, media
Ambassador Azizbek Madmarov of Kyrgyzstan conducted a briefing for the diplomats and media in Ashgabat on 16 September 2024. In the first part of the briefing, he quoted a recent speech of President Sadyr Japarov to the nation on the occasion of the Independence Day, and in the later part he spoke about some joint key projects of Kyrgyzstan with the regional countries. At … [Read more...]
The German Chancellor and the President of Uzbekistan met in Samarkand – a package of documents signed – Germany and Uzbekistan are working on projects worth 9 billion Euros
On Sunday, 15 September, the Federal Chancellor of Germany Olaf Scholz started his visit to Central Asia. The first stop was Samarkand in Uzbekistan, where he had summit talks with the President Shavkat Mirziyoyev in narrow and expanded formats. A year ago, a meeting in Germany led to intensified contacts at all levels. Trade turnover between the two countries surpassed 1 … [Read more...]
Afghanistan: Nearly 700 Million in Trade Conducted With Central Asian Countries
The Ministry of Industry and Commerce said that in the first five months of the current solar year, Afghanistan has conducted trade worth nearly $700 million with Central Asian countries. Akhundzada Abdul Salam Jawad, spokesperson for the ministry, said that around $60 million of exports have been made, and the ministry is working to increase the level of exports to Central … [Read more...]
TIF 2024: Kyrgyzstan and Turkmenistan to hold online meetings of relevant departments to strengthen business ties – Two countries’ postal services inked an agreement
Deputy Minister of Economy and Commerce of the Kyrgyz Republic Nazarbek Malaev took part in Turkmenistan Investment Forum TIF 2024, which was held on 10-11 September 2024 in Ashgabat. On the sidelines of this Forum, Malaev met with Director General of the Agency for Transport and Communications under the Cabinet of Ministers of Turkmenistan Mammedkhan Chakiyev, Deputy … [Read more...]
Central Asia-Jiangsu Trade Center Opens in Nanjing, Boosting Regional Trade
On September 12, the opening of the Central Asia - Jiangsu Trade Center took place in the Chinese city of Nanjing, Jiangsu Province. The multi-storey Center is a multifunctional platform for Central Asian businesses to enter the Chinese market, according to the Ministry of Trade and Integration of Kazakhstan. The Central Asia-Jiangsu Trade Center will be supervised by the … [Read more...]
Speech by President Serdar Berdimuhamedov at the Investment Forum of Turkmenistan, the international conference on attracting high technologies and innovations to the national economy and specialized exhibitions (via videoconference)
Dear compatriots! Dear participants of the international forum! I heartily congratulate you on the start of the work of the Investment Forum of Turkmenistan and the international conference on attracting high technologies and innovations to the national economy, as well as specialized inspections that are taking place in white marble Ashgabat on the eve of the 33rd … [Read more...]
TIF 2024: Turkmenistan’s foreign trade turnover in the first half of 2024 exceeded US $ 9 billion
Chairman of the Board of the State Bank for Foreign Economic Affairs of Turkmenistan Rakhimberdy Jepbarov shared the positive economic indicators of the country at the TIF 2024 Investment Forum in Ashgabat. According to Jepbarov, Turkmenistan's foreign trade turnover in the first half of 2024 exceeded US $ 9 billion, demonstrating a trade surplus of US $ 2.973 billion. This … [Read more...]
TIF 2024: The private sector is the key to Turkmenistan’s prosperity
The second session of the Turkmenistan Investment Forum (TIF 2024), held in Ashgabat on September 10, focused on the pivotal role of public-private partnerships (PPPs) in driving economic growth. Nokerguly Atagulyev, Chairman of the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET), outlined the country's thriving entrepreneurial landscape and highlighted key PPP … [Read more...]
TIF 2024: Russia’s Underutilized Export Potential to Turkmenistan: A $200 Million Opportunity
According to Dmitry Volvach, Deputy Minister of Economic Development of the Russian Federation, Russia's unrealized export potential to Turkmenistan amounts to a significant $200 million. This announcement was made during the plenary session of the Turkmenistan Investment Forum (TIF 2024) in Ashgabat. The trade turnover between Turkmenistan and Russia for the first seven … [Read more...]
TIF 2024: Executive Director of the Eastern Committee of the German Economy Praises Turkmenistan’s Economic Potential
Michael Harms, Executive Director of the Eastern Committee of the German Economy, delivered a keynote address at the Turkmenistan Investment Forum (TIF 2024) on 10 September 2024. In his speech, Harms highlighted the significant potential for German-Turkmen economic cooperation, citing the country's abundant energy resources, strategic location, and predictable business … [Read more...]
Is the US Dollar heading toward collapse? – Part Two
Tariq Saeedi The BRICS summit will be held in Kazan, Russia, 22-24 October 2024. Three major announcements are expected. One of them is the launch of the BRICS Pay, an alternative system aimed at de-dollarization. Blockchain-based, it could possibly be one of the biggest geopolitical and economic developments of recent years. Moreover, it will operate as the global south’s … [Read more...]
Turkmen Delegation had a series of meetings in Helsinki
On 5 September 2024, a round table with the participation of leading Finnish companies “Finnish Water Forum”, “Watermaster”, “Wärtsilä”, “Agronic Oy”, “Reorbit”, Finnish Meteorological Institute and others was held in Helsinki in the premises of the EastCham Finland. At the event, the Turkmen delegation was headed by Deputy Minister of Foreign Affairs of Turkmenistan Myahri … [Read more...]
Ambassadors from Central Asia and the Gulf Arab countries met in Brussels
In Brussels, the capital of the European Union, the first meeting of ambassadors from the Gulf Cooperation Council (GCC) countries, Central Asia, and Mongolia took place. The event served as an important platform for discussing interregional cooperation and strengthening economic and political ties between these regions. One of the key agenda points was the discussion of the … [Read more...]
TIF 2024: attractive trajectories of economic prosperity
Preparations for one of the main events in the economic life of the country - the Turkmenistan Investment Forum (TIF 2024) are in full swing in Ashgabat, which will be attended by representatives and officials of major international organizations, financial and banking institutions, energy companies, as well as various specialized structures of various countries of the … [Read more...]
New U.S. Ambassador to Turkmenistan identifies key areas of work
The newly appointed U.S. Ambassador to Turkmenistan, Ms. Elizabeth Rood, held her first press briefing today at the new complex of the U.S. Embassy in Ashgabat. During the meeting with journalists, she outlined the main priorities of her activities. Ambassador Rood highlighted four key areas of work: combating climate change, developing the economic sector, security issues … [Read more...]
A Promising Future for Turkmenistan-Germany Cooperation
Stable and growing economic cooperation forms a cornerstone of the successful relationship between Germany and Turkmenistan. Today, clear trends in bilateral economic activity are fostering optimism about future prospects. Ambassador of Germany to Turkmenistan, Bernd Heinze, highlighted this in an interview with the Turkmenistan newspaper. Germany and Central … [Read more...]
The Ministry of Foreign Affairs of Turkmenistan hosted a meeting with the UAE Ambassador
UAE Ambassador to Turkmenistan Ahmed Al Hameli met with Deputy Minister of Foreign Affairs of Turkmenistan Ahmed Gurbanov. During the meeting, ways to expand cooperation between the two countries in various fields were discussed, according to the UAE Embassy in Turkmenistan. Earlier, Ambassador Ahmed Al-Hameli held a number of meetings with the Chairman of the Chamber of … [Read more...]
Turkmen-Swedish cooperation discussed in Stockholm
On 3 September 2024, Turkmen-Swedish political consultations were held in Stockholm. The Turkmen side was headed by Deputy Minister of Foreign Affairs of Turkmenistan Myahri Byashimova, the Swedish side was led by Tobias Thyberg, Head of the Department for Eastern Europe and Central Asia of the Ministry of Foreign Affairs of Sweden. During the inter-MFA consultations, the … [Read more...]
Anadolu Agency interviews Turkish ambassador in Ashgabat
The Anadolu Agency, the state-run news service of Türkiye, has interviewed Ambassador Ahmet Demirok, the envoy of Türkiye in Ashgabat. Commenting on the state of relations between Türkiye and Turkmenistan, the ambassador said that Türkiye was the first to recognize the independence of Turkmenistan and the first to open embassy in Türkiye. Demirok said that Türkiye fully … [Read more...]
Kazakhstan will replace subsidies for agriculture sector with easy credits, other measures
At the start of the 33rd session of the parliament of Kazakhstan, President Tokayev has asked for some bold measures to uplift the agriculture sector. Here is the relevant portion of his address to the lawmakers : An extremely important task is to attract investment to the agro-industrial complex. Despite the consequences of the floods, our farmers completed the sowing … [Read more...]
Improvement in investment climate and ease of doing business on agenda for parliament of Kazakhstan
President Tokayev of Kazakhstan, at the start of the 33rd session of the parliament, gave the detailed guidelines to the lawmakers for the current legislative work. Here is the relevant portion from his speech related to the investment climate and conditions for doing business : It is important to constantly work on improving the investment climate and conditions for … [Read more...]
TIF 2024: Investing in the future
On 10-11 September, Ashgabat will become a center of attraction for investors and experts worldwide. Turkmenistan is opening the doors to the grand TIF 2024 Investment Forum, where the most pressing issues of the country's and the region's economic development will be discussed. The Forum is organized by the Ministry of Finance and Economy of Turkmenistan, the Ministry of … [Read more...]
Armenia’s business mission to Almaty: Strengthening economic ties and new transport routes via Turkmenistan and Iran
Almaty recently hosted an important event for business cooperation between Kazakhstan and Armenia — 50 Armenian entrepreneurs visited Kazakhstan with a business mission. The event, organized by the Diplomatic Club “Astana” in collaboration with the embassies of both countries, was aimed at strengthening constructive dialogue between the countries, creating additional … [Read more...]
Turkmenistan, Afghanistan sign four documents related to TAPI, TAP, Railways
The Afghan delegation led by the Acting Minister of Mines and Petroleum Products of Afghanistan Hidayatullah Badri, had a meeting on 30 August 2024 in Ashgabat. The Turkmen side was represented by several deputy prime ministers, ministers, and other senior officials. The expanded talks led to the signing of four documents: – Memorandum of Understanding between the … [Read more...]
Kyrgyzstan creating environment to nurture E-Commerce
Kyrgyzstan, a country striving to break out of its economic limitations, is continuously working to support e-commerce. The idea is to create the enabling environment to support all the stakeholders in the e-commerce mix. BC Card Kyrgyzstan, a joint Kyrgyz-Korean joint venture has recently started working in Kyrgyzstan. The partners are the South Korean companies BC Card and … [Read more...]
Ongoing rehabilitation of Karakalpakstan is a success story from Uzbekistan, mitigating Aral Sea disaster impact
Karakalpakstan is an autonomous region of Uzbekistan, bordering with Turkmenistan. It was a thriving region in the 1970s, when irrigation from the Amu Darya was being expanded. However, the evaporation of the Aral Sea has made Karakalpakstan one of Uzbekistan's poorest regions. Karakalpakstan has an area of 166,590 km2 (64,320 sq mi), and has a population of about 2 million … [Read more...]
Greenifying Central Asia: From fossil fuel to renewable energy giants?
Mokhinur Sultanova Central Asia, a region rich in natural resources, has long relied on its vast reserves of fossil fuels to drive economic growth and development. However, the energy landscape is rapidly evolving, with new challenges emerging due to climate change, economic shifts, and the global transition towards renewable energy sources. With its rich history of fossil … [Read more...]
International Trade Center Opened at Uzbek-Afghan border – Expected annual trade turnover is USD 1.2 billion
The International Trade Centre was opened on 29 August 2024 at Termez, the border town between Uzbekistan and Afghanistan. It is located on the Uzbek territory. The sprawling complex covers an area of 36 hectares. The project cost was USD 70 million. The centre will play an important role in the development of trade and export of industrial and consumer goods produced … [Read more...]
New ADB Strategy to Propel Turkmenistan Towards a More Sustainable, Climate-Resilient, and Competitive Economy
The Asian Development Bank (ADB) today launched a new country partnership strategy for Turkmenistan designed to help the Central Asian nation develop a competitive, diversified, and knowledge-based economy driven by an innovative private sector. Under the new strategy, covering 2024-2028, ADB’s assistance will focus on three strategic priorities — supporting the green … [Read more...]
Turkmenistan-Tatarstan Cooperation Growing Exponentially
nCa Report The cooperation between Turkmenistan and Tatarstan, the largest component republic of the Russian Federation is expanding exponentially. This was evident at the recently-held ninth meeting of the Joint Turkmen-Tatarstan Working Group on Trade, Economic, Scientific, Technical and Cultural Cooperation. Here are the outcomes: [There is some duplication because … [Read more...]
China sets 2050 target for world-class aviation hubs
China plans to establish a group of world-class aviation enterprises and hubs by 2050, according to a new guideline released by the Civil Aviation Administration of China and the National Development and Reform Commission. The guideline outlines a three-phase strategy for developing international aviation hubs with milestones set for 2025, 2035 and 2050. By 2025, the … [Read more...]
«Central Asia Could Become the New Star of the Global Dairy Industry» – Dou Ming, Chief Analyst at Beijing Orient Agribusiness Consultant, Ltd., IFCN Expert from China
From November 26 to 27, 2024, the annual Central Asian Dairy Congress - AqAltyn will take place in Turkestan. This significant event will bring together leading specialists and experts from the dairy industry across Central Asia and beyond. One of the key speakers at the congress will be Dou Ming, Chief Analyst at the leading consulting firm Beijing Orient Agribusiness … [Read more...]
As to why cotton is indispensable crop for Central Asia
nCa Report The cotton crop is among the things that attract criticism toward Central Asia. Despite that, the region would grow more rather than less cotton. Why? Here is why? The cotton crop is labour-intensive i.e. you need more people for the entire crop cycle, particularly at the harvest stage. This provides for employing more people in the upstream cotton sector. … [Read more...]
Turkmenistan and Iran are preparing to establish joint trade zone
Turkmenistan and Iran are preparing to establish a joint trade zone. It will be located Incheh Borun n the Golistan province of Iran. It is a small town with population of about 2000. Nevertheless, it is strategically important as the Kazakhstan-Turkmenistan-Iran railway line enters Iran at this point. An area of 12577 hectares (about 125 square km). It is 40km from the … [Read more...]
Kazakhstan and Türkiye sign documents worth more than USD 2 billion during visit of agriculture minister of Kazakhstan to Türkiye
The Minister of Agriculture Kazakhstan, Aidarbek Saparov, visited Türkiye recently. His visit led to the signing of bilateral documents worth more than USD 2 billion. During the meeting at the Chamber of Commerce and Industry in Ankara, the parties signed documents worth $2 billion and trade contracts for the supply of meat worth $80 million. The documents are aimed at … [Read more...]
The visit of Uzbek PM to Afghanistan – The Event and the Phenomenon
Tariq Saeedi Prime Minister Abdulla Aripov of Uzbekistan visited Afghanistan, 17-18 August 2024. It is the highest-level visit of a foreign head of government to Afghanistan since the Taliban came to power in 2021. It is significant as both an event and a phenomenon. The Event The visit was successful by all means. The outcomes are impressive. According to the Uzbek … [Read more...]
Macroeconomic Review of EDB upbeat on growth in member countries
The Eurasian Development Bank (EDB) has issued its periodical macroeconomic review of its member countries. On the whole, it reflect a positive picture of the growth pattern in its region of operations. The report says: Analysts of the Eurasian Development Bank (EDB) have released the latest Macroeconomic Review for the Bank's six member states. EDB's analysts note … [Read more...]
Kazakhstan and Uzbekistan plan to DOUBLE their GDP by 2030
nCa Report In plans that may sound rather ambitious but are actually quite realistic, Kazakhstan and Uzbekistan are striving to double their GDP by 2030. Uzbekistan The GDP in Uzbekistan has recently crossed the USD 100 billion mark and its doubling by 2030 should see it rising to around USD 200 billion. For Uzbekistan, it would be particularly remarkable as the country … [Read more...]
Postal services of Kyrgyzstan and Türkiye join hands to promote e-commerce
The Kyrgyz Post and Turkish Post have signed an agreement to create new products in the field of e-commerce, logistics and cargo handling, as well as to develop trade exchanges between the two countries. As reported by Akchabar, this is the first step in a strategic partnership between the two companies. The document was signed during the international forum E- com KG 2024 … [Read more...]
Rise of E-commerce in Central Asia creates more space for China
E-commerce is rising fast in Central Asia and this has created additional space for China. According to the People’s Daily of China, approximately nine million parcels are exchanged between China and countries around the world daily, making it easier and faster for consumers to "buy globally." Over the past five years, the scale of China's cross-border e-commerce trade … [Read more...]
GIFT IFSC: Emerging as a preferred new age global financial centre
Dr Dipesh Shah The Governmnent of India implemented a major financial sector reform by establishing the country’s maiden International Financial Services Centre (IFSC) in GIFT City, Gujarat. The IFSC has been developed as a unique international financial jurisdiction within onshore India, which has been designated as a non-resident zone under the Foreign Exchange Management … [Read more...]
Evolution of Indian Economy: 7 Major Highlights (1947-2024)
The Indian economy, one of the fastest-growing in the world, has undergone significant evolution since independence. The journey of the Indian economy from tatters to an economic powerhouse has not been easy. Year on year, citizens' and government's Relentless and consistent efforts have built today's India. As Dr. Manmohan Singh said, “The brightest jewel of the British crown” … [Read more...]
Central Asia-Japan Joint business forum held in Astana – Turkmenistan and Japan inked a package of deals
On 9 August 2024, a business forum of the Central Asia + Japan Dialogue was held in Astana. The event was organized by the Ministry of Economy, Trade and Industry of Japan, the Japanese Association for Trade with Russia and NIS (ROTOBO), the Ministry of Foreign Affairs of the Republic of Kazakhstan, Kazakh Invest, the National Chamber of Entrepreneurs of the Republic of … [Read more...]
The Minister of Foreign Affairs of Turkmenistan and the Deputy Prime Minister of Afghanistan held an online meeting
Deputy Prime Minister of Afghanistan Abdul Ghani Baradar held a videoconference meeting with the Minister of Foreign Affairs of Turkmenistan Rashid Meredov, the Embassy of Afghanistan in Turkmenistan reports on its social networks. During the meeting, the parties discussed bilateral political, economic and trade relations, as well as ways to implement the TAPI project in … [Read more...]
Speech by President of Turkmenistan Serdar Berdimuhamedov at the sixth Consultative Meeting of the Heads of Central Asian States
Dear Heads of State, Dear members of the delegations! First of all, I would like to express my gratitude to the President of the Republic of Kazakhstan, dear Kassym-Jomart Kemelevich Tokayev, for the hospitality and excellent organization of the meeting. Our annual meetings have already become a tradition and, as practice shows, they are always relevant. During these … [Read more...]
Kazakhstan and Turkmenistan strengthen economic cooperation: Kazakh-Turkmen Trade Grew by Nearly a Third
On 9 August 2024, First Deputy Prime Minister of the Republic of Kazakhstan Roman Sklyar met with Deputy Chairmen of the Cabinet of Ministers of Turkmenistan Batyr Atdaev and Baymyrat Annamammedov in Astana. During the meeting, the sides exchanged views on the economic situation in Kazakhstan and Turkmenistan, discussed the current status and prospects for the development of … [Read more...]