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In October-December 2023, a number of significant business and economic events will be held in Turkmenistan. The arrival of foreign delegations, negotiations on key industries and projects, and the signing of agreements are expected.
In the energy sector, there is progress in the implementation of strategic projects to expand gas export supplies - the construction of the Turkmenistan-China and Turkmenistan-Afghanistan-Pakistan-India gas pipelines. At the same time, ambitious initiatives to form regional gas hubs with the participation of Turkmenistan are being discussed around the world. This opens up good prospects for increasing gas exports.
It is important to note the growth in trade turnover with the countries of Central Asia, in particular with Uzbekistan. This promotes regional economic integration. There is also a course to attract foreign investment and technology in the development of Turkmenistan’s infrastructure, including transport and energy.
Upcoming business events
On October 25–27, Ashgabat will host the XXVIII International Exhibition and Conference “Oil and Gas of Turkmenistan – 2023” (OGT – 2023). More than 100 delegates have already arrived in the Turkmen capital to participate in the event. In total, more than 700 delegates from 46 countries are expected at the forum.
On December 6-8, the Chamber of Commerce and Industry of Turkmenistan will host an exhibition of Turkish export goods.
On October 25-26, Turkmenistan will be represented at the international forum “MTC “North-South” - a new concept”, which will be held in Astrakhan (Russia).
Energy
China National Petroleum Corporation (CNPC) announced that it will accelerate the construction of the D branch of the gas pipeline from Turkmenistan to China. Increasing the pace of work will contribute to the development of economic and political cooperation between Turkmenistan and China, as well as other countries of Central Asia.
Afghanistan has announced its readiness to finance the construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline on its site, as well as to acquire land plots for laying the pipeline. This indicates Afghanistan's high interest in the implementation of the TAPI project and its desire to contribute to its success.
The delegation of Iraq led by the country's Minister of Electricity Ziad Ali Fadel will take part in the upcoming international conference and exhibition “Oil and Gas of Turkmenistan - 2023” (OGT-2023). The delegation’s visit to Turkmenistan is important in the context of the agreement on the imminent start of Turkmen gas supplies to Iraq.
Turkmenistan and China came to an agreement to expand energy cooperation during a meeting of a high-ranking delegation of Turkmenistan with Vice Premier of the State Council of the People's Republic of China Ding Xuexiang in Beijing. In the future, this could help increase gas supplies, develop infrastructure and technology, as well as strengthen political dialogue and trust between countries.
The Turkmenbashy oil processing complex (TOPC) increased the production of liquefied gas by 1,9 times in the period from January to September 2023 compared to the same period last year.
The Russian company “Gazprom” will consider and evaluate Iran's proposal to create a new gas hub, including Turkmenistan, Russia and Qatar. This was stated by Russian Deputy Prime Minister Alexander Novak. Iran's proposal is an ambitious project to form a strong alliance that could have a major impact on the global gas market, as it would include countries with the world's largest natural gas reserves.
Trade
During January-September 2023, Turkmenistan and Uzbekistan increased mutual trade turnover by 7,9% compared to the same period last year. This figure reached 830,3 million USD, which indicates an increase in trade and economic partnership between the two countries.
A delegation of representatives of Italian companies Rinieri, Vignetinox, Ricciarelli SPA, RI.MA Group, FBR-ELPO SPA, SARBA International visited Turkmenistan. They work in the field of agriculture and food industry, producing and promoting various machines, equipment, spare parts and technological solutions. Withini the framework of the visit, a seminar on agricultural machinery and equipment for Turkmen entrepreneurs was held, as well as negotiations between businessmen of the two countries.
The customs departments of Turkmenistan and China will cooperate in the field of simplification and security of customs procedures within the framework of the Authorized Economic Operators Program. The intentions of the parties were consolidated by a Memorandum of Understanding signed during the working visit to Beijing of the National Leader of the Turkmen people Gurbanguly Berdimuhamedov.
Transport
The State Agency for the Management of Highway Construction in Turkmenistan is reconstructing the northern bypass highway Ashgabat - Geoktepe. New road bridges will be built along the highway over the railway and a mudflow drainage canal. Modernization of the highway will ensure uninterrupted freight and passenger transportation.
The “Turkmendenizderyayollary” Agency and the shipbuilding company Damen Shipyards Gorinchem from the Netherlands discussed cooperation in the construction of dredging vessels at the “Balkan” shipbuilding and ship repair plant. It was noted that localizing production in Turkmenistan may turn out to be more economically profitable than importing finished ships.
Construction
Turkish company Gap Inşaat Ýatyrym we Dyş Tijäret A.Ş. will reconstruct and supplement the infrastructure of the Ahal-Teke equestrian complex of the President of Turkmenistan with new buildings and structures. Construction work is due to begin in October 2023 and be completed in April 2026.
Finance
General ranking by the number of registered bank cards in Turkmenistan as of September 1, 2023:
SCBT “Daihanbank” – 1 904 152;
SCBT “Turkmenistan” – 1 059 032;
JSCBT “Halkbank” – 629 287;
AKB “Turkmenbashy” - 577 352;
The State Bank for Foreign Economic Affairs of Turkmenistan – 484 975;
JSCB “Senagat” – 438 214;
JSCB “Rysgal” – 179 853;
AKB Turkmen-Turkish – 115 030.