Transport diplomacy: potential and prospects

Turkmenistan, which takes an exceptionally favourable geographical position, is confidently strengthening its position as an important transport and transit hub and logistics centre of regional and continental importance, striving to realise its impressive potential for the common benefit. By expanding transport flows from Asia to Europe and back, the country is successfully integrating its national economy into the global economic space. Turkmenistan, located at the intersection of the main East–West and North–South trade routes, is a strategic crossroads between Asia and Europe. The Eurasian continent has historically been a natural space of close and multifaceted interaction, in which dozens of peoples and states have been involved. For centuries, economic and commercial ties have been actively developing among them, trade routes have arisen and mastered. This process has always carried a huge civilisational function, ensuring the interpenetration of cultures and traditions, helping better perceive and understand each other.

The power of national economy

On the 11th of February of this year named the «Era of the People with Arkadag» the «Revival of the new Era of the Powerful State: the National Program of developing the social-economic trends of Turkmenistan in the years of 2022-2052» adopted at the session of Halk Maslahaty of the National Gengesh of Turkmenistan which was held in the Maslahat Palace of our capital. Of course, increasing the energy power of our country is one of the main tasks, planned in the National Program. In his speeches our Esteemed President calling attention to developing fuel-energy complex, the formation of innovational productions on processing the hydro-carbon means, underlined the great importance of formation of multilateral system of widening the export opportunities by diversification and also of exporting energy means. In Turkmenistan, which is one of the main states of large energy resources, the fruitful works are realized on reliable transit of energy resources and securing sustainable development and safety on the initiatives and proposals of our Neutral state under the patronage of the UNO and our country has a great international authority. The adoption of Resolutions «On Reliable Transit of Energy Resources and its Significance on securing Sustainable Development and International Co-operation» in 2008 and 2013 shows vividly this truth. The recognition of our Neutral Motherland a

Turk­me­nis­tan in the world in­for­ma­tion space

Expo 2020 sets new Guinness World Record

     Another world record that deserves inscribing on the Guinness World Records has been set at the World Exhibition in Dubai. According to russianemirates.com, Dubai Police in collaboration with Expo 2020 Dubai has created the largest chain of people wearing a badge.  265 people of 193 nationalities thanked Expo 2020 Dubai and passed the badge with the Expo 2020 symbols to each other in the three-minute video. The video, which was made during 48 hours, features 192 Country Pavilions. This action was recorded on the Guinness World Records as the largest online video chain of people wearing a badge

Integrated Development of the Velayats is the Basis for the Prosperity of the Homeland

A Working Trip of President Gurbanguly Berdimuhamedov President Gurbanguly ­Berdimuhamedov made a working trip to the Balkan velayat, where he visited the Uzynada oil and gas field and conducted a meeting on the further development of the oil and gas industry and on the development and realisation of the country’s rich resource potential.

Turkmenistan in the third decade of the 21st century:

Formula of Success With regard to the history of the country, each year is another milestone in the development of the society and state. The historical chronicle of independent neutral Turkmenistan will preserve the events of 2021, which became significant along the path to achieving sustainable socioeconomic development and strengthening the authority of Turkmenistan in the world community.

Ashgabat hosts 15th economic cooperation organization summit

«Türkmenistan Sport», № 4, 2021 On November 28, on the day of the foundation of the Economic Cooperation Organization (ECO), the 15th Summit of the ECO Member States chaired by President of Turkmenistan Gurbanguly Berdimuhamedov took place.

Service Sector: Innovative Approach and Advanced Solutions

In the modern history of the Turkmen people, grandiose reforms, aimed at improving the welfare of citizens of the country through the fruitful development of the major sectors of the economy and the progressive growth of the service sector, are being implemented under the wise, far-sighted and progressive leadership of President Gurbanguly Berdimuhamedov. The prospects for the comprehensive rapid development of the national economy are reflected in the Socioeconomic Programme of the President of Turkmenistan for 2019–2025. The Programme pays special attention to this sector, which is one of the most promising and takes a significant place in the modern economies of the world.

Course on the sustainable development of national economy

In accordance with the deeply thought-out economic policy of our respected President Gurbanguly Berdimuhamedov, large-scale work, aimed at ensuring sustainable economic growth, diversifying the national economy, developing market relations, raising the competitiveness of domestic producers, increasing welfare and improving the social and living conditions of the country’s population, is being carried out in the country. In order to maintain the high rates of socioeconomic development, the Government is taking targeted measures to reduce the impact of the difficult situation in the world economy on the economy of Turkmenistan. Thus, in July 2020, the National Programme on the Reduction of the Impact of Difficult Circumstances in the World Economy on the Economy of the Country and the Sustainable Development of the National Economy for 2020–2021, being of great importance in the implementation of the tasks defined in the Programme of the President of Turkmenistan on the socioeconomic development of the country for 2019–2025 and in the strengthening of the economic potential of the state as a whole, was adopted.

The banking sector – prospective projects and innovative solutions

In the modern history of the Turkmen people, under the wise, far-sighted and progressive leadership of President Gurbanguly Berdimuhamedov, large-scale reforms, aimed at strengthening financial stability through improving the activities of the banking sector based on a scientific approach and the best practices of first-class foreign banks, are carried out in the country. In this regard, the key importance is attached to the successful implementation of the State Programme of the Development of the Banking System of Turkmenistan for 2011–2030. Today, banks are one of the main financial intermediaries in the country’s economy. By carefully distributing financial flows among different segments of the economy, banks have a tremendous impact on the planned development of economic sectors. Accordingly, the progressive development of the entire economic system with all its connections and interdependencies depends on how stably and efficiently their activities will be organised. In this context, in order to ensure innovative activity in the process of modernising the Turkmen economy, particular importance is attached to expanding lending to the real sector of the economy, especially in the field of investment lending, which, in turn, is accompanied by the modernisation of both the entire financial sector and its most important part – the banking system of Turkmenistan.