Ashgabat, 7 September 2024 (TDI): The Ministry of Trade in Turkiye has reported that Turkish contractors are actively involved in construction projects worth $53.3 billion in Turkmenistan, reflecting Ankara’s substantial footprint in the country’s construction sector.
Comparatively, Turkish contractors have undertaken projects valued at $102.3 billion in Russia, making it the largest market for Turkey’s construction industry, followed by Kazakhstan with $29.5 billion in project value.
Statistics indicate that 13.9% of all foreign projects by Turkish firms are focused on highways, tunnels, and bridges, 13.8% on housing, 8.6% on power plants, 7.1% on shopping centers, and 6.6% on airports.
In 2024, Turkish construction companies completed 148 projects abroad valued at $11.2 billion.
The total number of international projects completed last year was 433, amounting to $28.1 billion. The average project value increased from $64.9 million in 2023 to $75.7 million in 2024.
In a recent development, following a meeting on September 2 between Gurbanguly Berdimuhamedov, National Leader of the Turkmen people, and Erman Ilydjak, Chairman of the Board of Rönesans Holding, the Turkish company is set to build a new shopping center in Ashgabat.
Turkiye-Turkmenistan Relations
Turkiye and Turkmenistan enjoy a robust and multifaceted relationship, characterized by deep historical, cultural, and linguistic ties.
Both countries share a common Turkic heritage, which has laid the foundation for strong political, economic, and cultural connections.
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Turkiye was the first country to recognize Turkmenistan’s independence in 1991 and has since maintained strong diplomatic relations.
The countries frequently engage in high-level diplomatic exchanges and cooperate in various international and regional forums, such as the Economic Cooperation Organization (ECO) and the Organization of Turkic States.
Turkiye supports Turkmenistan’s policy of “positive neutrality” in international affairs.
Economic ties between Turkiye and Turkmenistan are particularly significant, with Turkey being one of Turkmenistan’s largest trading partners.
Turkish companies are highly active in Turkmenistan, especially in the construction sector.
Turkish contractors have undertaken numerous infrastructure projects in Turkmenistan, with projects worth $53.3 billion currently being implemented.
The two countries also collaborate in sectors like energy, textiles, and agriculture.
