In accordance with the objectives of the Program “Revival of a New Era of a Powerful State: National Program for Socio-Economic Development of Turkmenistan in 2022–2052” and the Program of the President of Turkmenistan for Socio-Economic Development of the Country in 2022–2028, Turkmenistan’s neutral policy as a universal strategically important instrument is aimed at further developing cooperation with the states of the world and the region, as well as with reputable international organizations. Diversification of the national economy of the state and enhancing the system with high-tech and digital processes give a powerful impetus to active integration into the global economic space and world economic relations.
In the context of intensive development of the national economy, Turkmenistan attaches great importance to cooperation with various countries of the world in the field of high technologies, the introduction of modern advanced knowledge and management solutions. Relevant work is being carried out to implement events and projects arising from the “Program for the Development of Foreign Economic Activity of Turkmenistan for 2020-2025”, the “Strategy for Foreign Trade of Turkmenistan for 2021–2030”, as well as other documents regulating trade, economic and investment activities. In this regard, such important tasks as creating positive international conditions encouraging the sustainable development of the national economy and improving the well-being of the population, active participation in world economic relations, further development of foreign economic cooperation, and attracting large investments to the country are becoming a priority.
Active and effective participation in the implementation of the UN Development Program is among the priority vectors of Turkmenistan’s foreign economic activity. The country is further expanding international cooperation in the field of energy and energy security, sustainable transport, food security, ecology and environmental protection, in particular in addressing important issues related to hydrogen energy, and other areas.
One of the important areas of the country’s socio-economic development is the implementation of the Sustainable Development Goals. Turkmenistan, which has committed to achieving all 17 Sustainable Development Goals by 2030, has been working since 2016 to nationalize the targets and indicators of the Sustainable Development Goals, adapt global goals to the conditions of Turkmenistan and embed them in the state policy of the country. Thus, the main vectors of economic, social and environmental development of the country until 2030 have been defined.
The country fully satisfies its needs for fuel and electricity from its own resources, a significant part of which is exported. Committed to a very responsible approach to the effective implementation of the vast energy potential in the national interests and for the benefit of all humankind, Turkmenistan is taking specific steps in this direction. Diversification of natural gas exports to world markets is also one of the key areas of the energy strategy of Turkmenistan, which ranks fourth in the world in terms of natural gas reserves. A clear example of this is the adoption by the UN General Assembly of Resolutions on reliable and stable transit of energy resources.
The deposits of the Turkmen sector of the Caspian Sea are being developed jointly with foreign partners. The construction of the Turkmenistan–Afghanistan–Pakistan–India gas pipeline continues. This new energy bridge, by ensuring the long-term supply of Turkmen natural gas to the largest countries of South Asia, will serve as a powerful stimulus for socio-economic development, strengthening business ties and peace in the entire region.
The construction of a solar and wind power station, an internal energy ring and a power transmission line along the Turkmenistan–Afghanistan–Pakistan route continues. The opening of the Center for the repair and maintenance of energy equipment in Ashgabat creates the preconditions for the diversification of the energy sector.
Turkmenistan is an attractive country in terms of bringing investments. A lot of work has been done to strengthen domestic and foreign investment activity, advance economic potential and ensure sustainable socio-economic development of the country’s regions. State initiatives aimed at creating a favorable investment climate are highly rated in international ratings.
Based on strategic objectives and program documents in specific areas, Turkmenistan remains committed to comprehensive mutually beneficial trade and economic relations with foreign countries, international and regional economic and financial organizations and institutions, and is increasing efforts to implement the tasks in this regard. The state continues its policy of strengthening cooperation with the Organization for Economic Cooperation and Development, the International Monetary Fund, the World Bank Group, the European Bank for Reconstruction and Development, the Asian Development Bank, the Islamic Development Bank and other financial and economic structures.
Recently, the whole world has seen the industrial and intellectual potential of the country through trade and financial forums, exhibitions, fairs, symposiums, including virtual shows. Turkmenistan’s achievements are highly appraised at the World Expos held in the world’s largest economic centers. In order to introduce new modern mechanisms and models of international cooperation, a number of measures are being implemented to expand partnerships with the International Exhibition Bureau, as well as to intensify participation in exhibitions and fairs held abroad with national products, services and industrial designs.
Turkmenistan is strengthening broad cooperation at the global and regional levels and in the energy sector. In this context, interaction is developing with the International Energy Charter, the International Energy Agency, the International Atomic Energy Agency and the International Renewable Energy Agency, as well as with leading foreign companies specializing in energy production.
Turkmenistan continues to actively integrate into regional and international transport and information-communication systems, thereby increasing its international transport, as well as transit capabilities. As part of the ongoing active efforts to join the World Trade Organization (currently with the status of “active observer”) and as a country participating in international free trade agreements, Turkmenistan is implementing an active policy to promote trade and economic interests. As a result of the work carried out to join the World Trade Organization, in July 2020, Turkmenistan was granted observer status in this organization. In February 2022, the member countries of the WTO General Council unanimously approved Turkmenistan’s candidacy and decided to grant the country the status of an acceding country.
As a member of the UN Commission on International Trade Law for the period 2022-2028, the country has begun relevant work within this structure.
Efforts in the foreign economic sphere are aimed at strengthening the country’s position in global economic relations, developing new markets and increasing export potential, as well as the inflow of foreign investment, bringing Turkmen goods and services to the world market, fully utilizing the capabilities of international and regional economic and financial organizations, as well as forming a positive image of the country in the global economic and financial community.
