Turkmenistan has solidified its position as the second most significant country for Turkish overseas projects, trailing only Russia, with 19 active ventures valued at a substantial $10 billion.
According to statements from Turkish President Recep Tayyip Erdogan received today, speaking after a visit to the Turkmen capital, President Erdogan detailed the extensive economic partnership between the two nations. ‘Turkish companies have completed projects worth approximately $55 billion since Turkmenistan’s independence,’ he said, underscoring the deep-rooted commercial ties.
The Turkish leader also highlighted strategic initiatives aimed at amplifying bilateral trade dynamics. ‘Our trade volume exceeded $2 billion in 2024. We aim to increase this figure to $5 billion in the coming period,’ Erdogan announced.
According to the president, collaboration is notably vigorous across pivotal economic domains, identifying energy, transportation, commerce, and infrastructural advancement as central topics during his official dialogues in Ashgabat.
Turkish firms have significantly invested in Turkmenistan”s economy across multiple sectors. By late 2025, they had finalized over 1,400 construction projects valued at approximately $50 billion, including major infrastructure and the Avaza resort.
In the energy sector, Turkish companies are active in oil and gas development, with ventures including gasoline production from natural gas and chemical manufacturing. Their involvement also extends to the textile industry through cotton processing and garment production, as well as investments in transport infrastructure and agricultural processing, positioning Trkiye as a key trade partner.
President Erdogan’s engagement aligned with commemorative activities celebrating the three-decade milestone of Turkmenistan”s enduring neutrality. During his visit, he also conducted separate bilateral talks with Russian President Vladimir Putin and Pakistani Prime Minister Shahbaz Sharif, focusing on economic synergies and regional dynamics.