Business digest: the main economic news of Turkmenistan from November 28 to December 4

In regular weekly business digest of Turkmenportal, read about the main economic news of Turkmenistan - from announcements of upcoming events to specific agreements and initiatives in key sectors of the economy.

Briefly about the main thing:

• Turkmenistan has joined the Global Methane Commitment;
• The country has taken measures to encourage oil and gas companies to process hydrocarbons;
• Ashgabat discussed expanding energy cooperation with Azerbaijan and Tajikistan;
• International exhibitions of food and halal goods were held with the participation of Turkmen companies;
• Turkmenistan and China plan to create a joint Business Council.

Announcements of upcoming events

On December 6-8, Ashgabat will host an exhibition of export goods of the Republic of Türkiye and the 7th meeting of the Turkmen-Turkish Commission on Economic Cooperation.

At the beginning of 2024, the 13th meeting of the Intergovernmental Turkmen-Russian Commission on Economic Cooperation will be held in Ashgabat.

Fuel and Energy Complex

Turkmenistan has joined the Global Methane Commitment. President Serdar Berdimuhamedov announced this at the COP-28 climate summit in Dubai. Ashgabat also expressed its commitment to continue cooperation with international organizations and partner countries in the framework of projects to fulfill the terms of this commitment.

Oil and gas producing companies in Turkmenistan were permitted to process raw materials into petrochemical and gas chemical products, including liquefied gas. They were also exempt from paying taxes on the sale of petrochemical and gas chemical products.

Turkmenistan and Tajikistan discussed the development of cooperation in the oil and gas sector, including issues of expanding the range of energy supplies and interaction in the field of petrochemicals and petroleum products.

The prospects for the supply of Turkmen gas and electricity to Azerbaijan were also discussed by Turkmenistan and Azerbaijan.

Trade

About 90 companies and private entrepreneurs presented their products at the International Exhibition of Modern Food Production Technologies “Agro-Pack Turkmenistan-2023” held in Ashgabat.

The delegation of Turkmenistan presented halal products produced in the country at the Halal Ekspo-2023 exhibition, which was held in Istanbul from November 24 to 27.

The international cooperation

The creation of the Turkmen-Chinese Business Council was discussed by Turkmenistan and China. It is expected that this structure will become an effective tool for resolving important issues of bilateral cooperation with the participation of business circles of the two countries.

Construction

Turkmenistan is preparing a Master Plan for the development of Ashgabat until 2045.

Agriculture

Turkmen specialists are studying its resistance to local climatic conditions for its further cultivation on a large scale.