BAKU, Azerbaijan, November 17. The German Eastern Business Association (OA) is supporting Turkmenistan’s economic diversification through a bilateral roadmap signed in 2023 that covers eight industrial sectors, including energy, agriculture, healthcare, and textiles, Regional Director for Central Asia Vladimir Nikitenko told Trend.
He noted that Turkmenistan, despite being the smallest country in Central Asia by population, possesses one of the region’s highest GDPs per capita due to its vast natural gas reserves.
"This strong resource base enables the government to invest heavily in infrastructure and modernization—many of these projects are powered by German technologies," Nikitenko said.
In his perspective, the OA functions as a conduit facilitating
synergies between German and Turkmen enterprises through the
orchestration of conferences, investment forums, and trade
missions.
"Occasions such as the Turkmenistan Economic Day in Frankfurt,
which convened more than 200 stakeholders, enable German
enterprises to leverage emerging prospects in the Caspian region,"
he articulated.
Nikitenko indicated that the forthcoming German business delegation
to Turkmenistan is scheduled for 2026, with the objective of
enhancing bilateral industrial synergies.
To note, Turkmenistan's economic diversification aims to diminish dependence on natural gas by advancing agriculture, textiles, transportation infrastructure, and renewable energy, while simultaneously enhancing its petrochemical and chemical sectors towards high-tech, fine chemical production. Essential strategies encompass augmented governmental investment in infrastructure, promotion of the private sector, and a shift from fundamental to advanced chemical goods to improve global competitiveness and sustainability.