Turkmenistan and Turkey Set Goal to Double Trade Turnover

A key step toward this goal will be the 8th meeting of the intergovernmental commission, scheduled for February or March next year in Ankara.

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Turkmenistan and Turkey have announced plans to increase their annual trade turnover from $2.5 billion to $5 billion in the coming years, The Caspian Post reports citing foreign media.

Turkish Trade Minister Ömer Bolat shared the goal during an exhibition in Ashgabat, where more than 70 Turkish companies were represented. He emphasized that the current trade volume is insufficient and that achieving this milestone would significantly strengthen economic ties between the two nations.

Roadmap for Economic Cooperation

A key step toward this goal will be the 8th meeting of the intergovernmental commission, scheduled for February or March next year in Ankara. According to Bolat, the meeting will approve a new roadmap for trade and economic cooperation.

“We will develop our cooperation in various fields, following the vision of the leaders of our brotherly countries,” Bolat stated, highlighting the deep cultural and historical ties between Turkey and Turkmenistan.

Priority Sectors

The partnership will focus on several priority areas:

• Energy: Discussions are underway to facilitate the transportation of Turkmen natural gas to Europe, which could lead to strategically important agreements.

• Chemical Industry: Both countries aim to collaborate on projects that enhance the sector’s development.

• Trade Facilitation: Improvements in customs procedures and visa regime simplifications are expected to ease business interactions for citizens of both nations.

Bolat also underscored the importance of Turkish construction projects in Turkmenistan, as well as the role of the Middle Corridor in boosting trade opportunities by improving goods transportation.

Strengthening Economic Ties

Turkey and Turkmenistan already maintain robust economic relations, with Turkey ranking as one of Turkmenistan’s leading trade partners. More than 600 Turkish companies operate in sectors such as trade, investment, construction, energy, transportation, communications, textiles, and processing industries.

This strategic collaboration reflects shared cultural and historical roots, with both countries committed to furthering economic cooperation across various fields. The ambitious $5 billion trade goal demonstrates a mutual effort to deepen ties and expand opportunities in the region.