Vice Chairman of the China Council for the Promotion of International Trade (CCPIT) Yu Jianlong said that China has maintained its position as Turkmenistan's largest trading partner for the 13th consecutive year, with bilateral trade reaching 10,65 billion USD in 2024. He made the announcement during a speech at the International Forum on Attracting Investment in the Private Sector (IFT 2025) in Ashgabat.
In his speech, Yu Jianlong emphasized the significant achievements in trade and economic cooperation between the two countries, especially after the synchronization of China's "Belt and Road" Initiative with Turkmenistan's initiative to revive the Great Silk Road. He noted that Turkmen natural gas supplied via the China-Central Asia gas pipeline provides for thousands of Chinese families, while Chinese consumer goods, automobiles and other products are in great demand among Turkmen consumers.
As of the end of 2024, the volume of direct Chinese investment in Turkmenistan in all sectors of the economy amounted to 260 million USD. Companies from both countries have successfully implemented a number of interrelated projects in areas such as infrastructure, energy and logistics. The CCPIT representative also noted that Turkmenistan is the largest supplier of pipeline gas to China, but there is significant potential for diversifying bilateral trade. He proposed expanding trade in high-quality agricultural products from Turkmenistan, such as grapes, melons and pumpkins, as well as premium goods, including leather goods, handbags and clothing.
Within the framework of the forum, a delegation of more than ten Chinese enterprises, including CNOOC Limited and Huahe International, representing such sectors as energy, trade, agriculture, architecture, logistics and mechanical engineering, arrived in Ashgabat.
