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Turkmenistan Economic News


Turkmenistan's real GDP growth exceeded 9 percent in first half of 2013
Turkmenistan’s real GDP growth in the first half of 2013 reached 9.4%. The rate of industrial growth amounted to 6.6%, the construction sector’s growth to 17.7%, the service sector’s growth to 11.3%, and agricultural growth amounted to 7%. Significant growth in the construction industry is reflected in the fact that currently some 1865 facilities are being built in the country, with capital investments exceeding $41 billion. Of this amount, national construction companies are spending $13 billion.
Source: Turkmenistan.ru  

Details of Afghan-Turkmen Gas Deal Announced
Afghanistan announced the details of a gas agreement with Turkmenistan, signed within the framework of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project in Ashgabat last week.The contract was signed between Afghan Gas and Turkmen Gas companies and the Ministries of Mines and Petroleum of Afghanistan and Turkmenistan, said the Afghan Foreign Ministry.The signing of this contract is considered to be a fundamental step towards implementing the TAPI Project, through which Afghanistan will address its gas needs for the next 30 years, the statement said.Based on this contract, and following the completion of this pipeline project, Afghanistan will purchase 500 million cubic meters of gas in the first ten years, and 1billion and 1.5 billion cubic meters of gas annually in the second and third decades respectively. 

At the meeting, the four countries, in cooperation with the Asian Development Bank, agreed to establish a joint consortium called TAPI Ltd by the end of 2013, which will consist ofthe gas companies of the member countries, the statement said.As a result of the transit of this pipeline, Afghanistan will earn about $500 million annually. The design capacity of TAPI is 33 billion cubic meters of natural gas per year. The estimated length is 1,735 kilometers. It is expected that the pipeline will extend from the largest gas field in Turkmenistan, Galkynysh, through the Afghan cities of Herat and Kandahar, to the Fazilka settlement on the Pakistani-Indian border.
Source: trend.az  

Japanese Sony is ready to expand its presence in Turkmenistan
President Berdymukhamedov met with Sony’s Executive Vice-President, Shoji Nemoto, who made several business proposals, according to the Neutral Turkmenistan newspaper. In the meeting, Nemoto expressed Sony’s readiness to expand its presence in the Turkmen market. In their meeting, they discussed media development, communication systems, and medical equipment supplies as possible areas of cooperation. They discussed Sony’s possible participation in preparing and holding the fifth Asian Indoor and Martial Arts Games in Ashgabat in 2017.
Source: trend.az  

President of Turkmenistan Receives Head of Toshiba Medical Systems Corporation
President Berdymukhamedov met with Toshiba Medical Systems’ President and Chief Executive, Satoshi Tsunakawa, to discuss cooperation. The head of Toshiba Medical Systems, which specializes in the production of modern medical equipment, expressed his company’s willingness to share experience, innovative technologies, and the most advanced developments in the sector.
Source: Turkmenistan.gov.tm  

President Berdymukhamedov Received Vice-President of Cotam Enterprises
President Berdymukhamedov met with Vice-President of the Turkish company Cotam Enterprises, SedaGenguru. The company is involved in the development of Turkmenistan’s textile industry and medical sector.
Source: Turkmenistan.ru  

Turkmen President Received Head of Calik Holding
President Berdymukhamedov met withAkhmetChalyk, the Head of the Turkish company Chalyk Holding. Chalyk informed the Turkmen leader that all the construction projects currently being implemented by the company in Turkmenistan will be completed in a timely manner and in compliance with quality standards.
Source: Turkmenistan.ru  

Iran, Turkmenistan Trade Transactions to Rise to $10 Billion

The Islamic Republic of Iran and Turkmenistan will seek to increase their trade exchange to $10 billion in the near future, as businesses in the two countries envision a doubling in the value of trade exchanges.The current value of annual trade transactions between Tehran and Ashgabat is $5 billion, while the figure stood at $1.3 billion in 2006.A recent report by the Trade Promotion Organization of Iran on Iran- Turkmenistan trade relations shows that the two countries held six mutual cooperation meetings between 2001 and 2012.The most important documents exchanged between the two countries were trade agreements on encouraging and supporting investment, agreements on avoidance of double taxation, and memoranda of understanding on business cooperation.
Source: tehrantimes.com


Russian holding to supply GLONASS inspired navigation products to Turkmenistan
Russian "Space Team holding" will supply high-tech navigation products based on the GLONASS global navigation satellite system to modernize and improve the efficiency of the Turkmen transport sector, "Space Team holding" reported. According to the report, an agreement was signed with AGA Birleshik, the leading technology company in Turkmenistan, to establish a comprehensive working center in Ashgabat. Space Team holding's experience will also be used while creating the navigation and information systems at the oil and gas enterprises, chemical enterprises, and electric power facilities.
Source: trend.az 

Turkmenistan, Russia to Hold Joint Business Forum in Belgorod
Turkmenistan and Russia are preparing for the fourth Turkmen-Russian economic forum to be held in Belgorod (Russia) from August 7-9, the Turkmen government reported. The event is designed to strengthen economic cooperation between the two countries and create favorable conditions for intensifying partnership among business companies.
Source: trend.az  

Iran, Turkmenistan Agree to Launch Several Flight Routes, Facilitate Border Transit
Deputy Iranian Road and Urbanization Minister ShahriyarAfandizadeh told Iran’s Farsnews Agency that an agreement was reachedat a conference in Ashgabat on July 8 and 9. “Iran raised the proposal for launching flight routes between the two countries and it was welcomed by the other side,” Afandizadeh said on Wednesday. Tehran and Ashgabat also agreed to facilitate visa requirements for the truck drivers transiting goods between the two countries, he added.
Source: Farsnews.com 


Turkmenistan Economic News

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