ASHGABAT, Turkmenistan, December 15. Türkiye is currently implementing 19 projects in Turkmenistan with a total value of $10 billion, Turkish President Recep Tayyip Erdogan said following his visit to Ashgabat, Trend reports via the Turkish Directorate of Communications.
“Turkish companies have completed projects worth approximately $55 billion since Turkmenistan’s independence. At present, 19 projects valued at $10 billion are underway,” Erdogan said.
He noted that Turkmenistan is sitting pretty in the second spot, trailing only Russia when it comes to the total worth of projects rolled out by Turkish firms.
President Erdogan also underscored 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,” he said.
According to Erdogan, collaboration with Turkmenistan is notably vigorous across pivotal economic domains, encompassing energy, transportation, commerce, and infrastructural advancement. He articulated that these domains were pivotal to the dialogues conducted throughout the visit.
He added that Turkish companies continue to play a major role in Turkmenistan’s economic development, emphasizing the sustained presence of Turkish business in the country.
The engagement aligned with commemorative activities celebrating the three-decade milestone of Turkmenistan's enduring neutrality, wherein Erdogan concurrently conducted bilateral dialogues with Russian President Vladimir Putin and Pakistani Prime Minister Shahbaz Sharif, focusing on economic synergies and regional dynamics.
Turkish companies have significantly invested in Turkmenistan, focusing on sectors such as construction, energy, textiles, transportation, and agriculture. By late 2025, they have completed over 1,400 construction projects worth approximately $50 billion, including infrastructure and the Avaza resort. In energy, Turkish firms are active in oil and gas development, including projects for gasoline production from natural gas and chemical manufacturing. The textile industry sees Turkish involvement in cotton processing and garment production. Additionally, Turkish investments contribute to transport infrastructure and agricultural processing, making Türkiye a key trade partner for Turkmenistan.
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