Ashgabat (TDI): Turkmenistan and Turkiye have announced plans to significantly boost their trade relations, setting a target to double their annual trade turnover from $2.5 billion to $5 billion in the coming years.
The announcement was made by Turkish Trade Minister Ömer Bolat at an exhibition in Ashgabat, which featured more than 70 Turkish companies.
Bolat emphasized that the current trade volume was insufficient, stressing that achieving the $5 billion target would substantially strengthen the economic ties between the two countries.
A key step towards realizing this ambitious goal will be the 8th meeting of the intergovernmental commission, set for February or March next year in Ankara.
The meeting is expected to approve a new roadmap for trade and economic cooperation, with Bolat affirming that the partnership will evolve in line with the vision of the leaders of both nations.
“We will develop our cooperation in various fields, reflecting the deep cultural and historical ties between our brotherly countries,” Bolat said.
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The partnership will focus on several key sectors. Efforts are underway to facilitate the transport of Turkmen natural gas to Europe, potentially leading to strategically significant agreements.
Both countries aim to enhance collaboration in the development of this sector.
Simplifications in customs procedures and visa regimes are expected to ease business interactions for citizens of both countries.
Bolat also highlighted the importance of Turkish construction projects in Turkmenistan and the role of the Middle Corridor in enhancing trade by improving transportation networks.
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Turkiye and Turkmenistan already maintain strong economic relations, with Turkiye being one of Turkmenistan’s leading trade partners.
Over 600 Turkish companies are active in sectors ranging from trade and investment to energy, construction, textiles, and transportation.
This growing strategic collaboration, rooted in shared cultural and historical bonds, reflects a mutual commitment to furthering economic ties and expanding trade opportunities. The $5 billion trade target marks a significant step in deepening bilateral cooperation.