NEWS

Logistics Potential of the Country

In the 21st century, trade remains a key aspect of cooperation between countries and serves as the backbone of modern society, also ensuring peace and cooperation among peoples. In terms of international trade, one of the most discussed issues is the establishment of sustainable supply chains. The creation of a harmonious system of transit corridors is one of the priorities of the economic strategy of Turkmenistan. In accordance with the adopted National Programme of the Socioeconomic Development of Turkmenistan in 2022–2052, the country’s efforts are aimed at the successful implementation of the tasks of the fullest use of the geo-economic potential of our Motherland through the creation of logistics corridors, the enhancement of the role of the country and its integration into the regional and international system of multimodal communications.

7 July 2023

Economy

Logistics: The Science of Integrated Transportation and Carriage of Goods

In his speech at the first Central Asia–China Summit, the President of Turkmenistan Serdar Berdimuhamedov put forward initiatives to build effective industrial cooperation schemes and to develop joint energy and transport projects. The President confirmed that our country was ready to expand transport cooperation, the key factor of which was the existence of objective mutual interests of the Central Asian countries and China. The issues related to interaction in the energy and the transport and logistics sectors, including the development and operation of relevant infrastructures, were considered during the talks between the President of Turkmenistan and the Prime Minister of Hungary on June 9 this year.

23 June 2023

Economy

Transit Corridors of Economy

The prospects of international economic relations and foreign trade of Turkmenistan contribute to the positive growth in cargo traffic, in servicing which the role of all existing and new large transport hubs of our state is steadily being increased. These intentions are being implemented consistently. Undoubtedly, transport corridors are of tremendous importance for joint work of our state with other countries and the development of the transport sector in addressing social and economic issues. Today, Turkmenistan has created a sufficiently diversified production potential for further effective integration of the national economy of Turkmenistan into the world economic system. These are developed transport and communication arteries, high-quality market infrastructure, economic and legal guarantees and an environment for attracting large-scale investments. And the social and political stability of the Turkmen state. Continuous work is being done in all these areas, and significant results have been achieved, for example, in the implementation of the transport and transit policy of esteemed President Serdar Berdimuhamedov.

9 June 2023

Economy

Achievements and Potential of the Turkmen Capital City are in the Spotlight

 XXII International Universal Exhibition “White City of Ashgabat” The XXII International Universal Exhibition “White City of Ashgabat”, organised by the Ashgabat City Administration and the Chamber of Commerce and Industry of the country, was held in the capital.

26 May 2023

Economy

International Transport and Transit Corridors: Interconnectivity and Development

A Large-Scale Industrial Conference and Exhibition Were Held in Turkmenistan The capital city hosted the II International Conference and Exhibition entitled “International Transport and Transit Corridors: Interconnectivity and Development–2023”, the venue of which was the Chamber of Commerce and Industry of the country.

5 May 2023

Economy

Factors of Economic Stability

The main tasks of the long-term progressive development of all sectors of the national economy are set forth in the Socioeconomic Development Programme of the President of Turkmenistan for 2022–2028. One of the most important areas for the progressive growth of Turkmen economy is the production of modern goods and market promotion of domestic products that meet international standards. Despite global economic challenges, which are hindering GDP growth of many countries and in some cases are creating the negative dynamics of economic growth, Turkmenistan’s GDP growth remains stable. One of the factors of economic stability is import substitution. This economic policy is a state strategy, the essence of which is simple – the replacement of foreign products with domestically produced goods. The goal is obvious: to stimulate and protect national economic interests by creating favourable conditions for industry and reducing the dependence on imports, introducing innovative technologies and expanding opportunities for using the accumulated national industrial potential.

29 April 2023

Economy

Transport — an Important Link of Business Cooperation

Being an important link of major international transit corridors, Turkmenistan actively establishes mutually beneficial cooperation with foreign countries and international structures. A wide range of issues related to cooperation in the transport sector is included in the agenda of almost all business forums. In March, the Turkmenistan–Tatarstan business forum was held in Ashgabat. In the context of building up trade and economic cooperation and mutual trade in accordance with the existing potential, both parties expressed their readiness for close cooperation in the transport and logistics sector. As it was emphasised at the Forum, the relations with the Republic of Tatarstan occupy an important place in the bilateral partnership between Turkmenistan and the Russian Federation. This cooperation develops consistently and on a systematic basis in line with the Declaration on deepening the strategic partnership between Turkmenistan and the Russian Federation, signed by President Serdar Berdimuhamedov and President Vladimir Putin in Moscow last June, and the agreements concluded. The key areas of the multifaceted dialogue between Turkmenistan and Tatarstan are the fuel and energy complex, the textile industry, agriculture, machine- and shipbuilding and transport. The solid and wide composition of the representatives of the business community of Turkmenistan and Tatarstan and t

31 March 2023

Economy

Union of Industrialists and Entrepreneurs of Turkmenistan Celebrates 15th Anniversary

UIET Holds Anniversary Forum in Ashgabat An exhibition of the Union of Industrial Enterprises and Entrepreneurs was held in the capital city to mark the 15th anniversary of this large public organisation. On this occasion, an anniversary conference took place.

24 March 2023

Economy

Agroindustrial Complex as an Important Segment of the National Economy

Turkmenistan attaches particular importance to the modernisation of the agroindustrial sector, which is directly related to ensuring food abundance in the country and building up the export potential of the national economy. The large-scale reforms aimed at improving agricultural efficiency and increasing agricultural output are being successfully implemented. Now the application of new organisational and legal forms in this sector in line with international practices, modern requirements and national realities is becoming increasingly important. In recent years, the agricultural reforms, aimed at diversifying production, optimising land and water relations, supporting agribusiness, creating high value-added production chains and adopting market mechanisms and digital technologies, have been implemented in Turkmenistan. Turkmenistan’s agroindustrial sector comprises several sectors of the economy, namely agriculture, industries and trade closely related to agricultural production. Its effective functioning focuses on producing and processing agricultural crops into high-quality consumer goods.

10 March 2023

Economy

A Model of Digital Economy

The development of high-tech and efficient industries in Turkmenistan is a priority of the socioeconomic policy of President Serdar Berdimuhamedov, since such development is essential for achieving the economic and social goals. These tasks are being fulfilled in the framework of the Conception of Digital Economy Development of Turkmenistan for 2019–2025 and the State Programme for Digital Economy Development for 2021–2025, ensuring the all-round prosperity of our country. The 21st century is the age of innovations. It is marked by their rapid growth – they have become an integral part of life, helping people solve problems and fully recognised as the foundation for global sustainable economic development. Digital transformation is taking place in nearly all sectors of the world economy – manufacturing, finance, services, education, infrastructure and the social sphere, among others. The main tools to enable digital transformation are the creation of the IT sector, the development of innovative methods and cybersecurity. This transition to a brand new economy is done by automating all processes of data processing. The Internet of things, big data, artificial intelligence, monitoring systems, blockchain, neural networks, 3D modelling, virtual reality, cloud computing and many other tools contribute to the integration of all data flows to create an informati

3 March 2023

Economy