Русский
The Russian Foreign Minister, Sergey Lavrov, has been on an official visit to Ashgabat, Turkmenistan, where he was received by President of Turkmenistan Serdar Berdimuhamedov and held talks with Deputy Prime Minister and Minister of Foreign Affairs of Turkmenistan Rashid Meredov.
They discussed key issues of Russia-Turkmenistan relations and reaffirmed their intent to implement joint economic and humanitarian projects, interaction within the framework of the Intergovernmental Russia-Turkmenistan Commission on Economic Cooperation, and specific aspects of regional security.
They agreed to continue close coordination within the CIS, the Caspian Five, the Central Asia+Russia format, and at the United Nations. They also stated the identity or closeness of their positions as regards current issues on the regional and international agendas.
Lavrov and Meredov signed a Program of Cooperation between the foreign ministries of the two countries for 2025−2026.
Turkmenistan is strategically positioned along the “Middle Corridor,” which serves as a crucial trade route between East and West, with the country becoming a crucial part of the International North-South Transport Corridor. Its Turkmenbashi Port on the Caspian Sea is significant and can develop as a key alternative route into Central Asia.
Turkmenistan’s economy is largely driven by its vast natural resources, with a strong emphasis on energy and agriculture. With the world’s fourth-largest natural gas reserves and significant oil resources, it relies heavily on these industries. The government is encouraging foreign investment in these sectors as well as renewable energy, particularly solar and wind. Agriculture also plays a vital role, with cotton being a staple, along with wheat, vegetables, fruits, and livestock products for domestic use and export.
Turkmenistan is not highly active in free trade agreements but participates in various economic cooperation frameworks. It has a Trade and Investment Framework Agreement (TIFA) with the United States and Central Asian countries like Kazakhstan, Uzbekistan, Tajikistan, and Kyrgyzstan, aiming to boost trade and investment in the region. Turkmenistan also participates with the Commonwealth of Independent States (CIS) and has a bilateral investment treaty with Russia. In 2024, Turkmenistan signed a deal with Uzbekistan to create a free trade zone in the Shavat-Dashoguz region, promoting cross-border trade with favorable customs and infrastructure.
With a population of 7.5 million and a GDP (PPP) of US$131.7 billion, Turkmenistan’s GDP per capita (PPP) stands at US$19,728. The country is expecting to see a GDP growth rate of 6.5% for 2025.
Regarding bilateral trade with Russia, the turnover increased from US$865 million in 2021 to US$1.6 billion in 2022 and an estimated US$1.8 billion in 2024. Bilateral trade thus far during 2025 has increased by 58%. The overall trend in Turkmenistan-Russia bilateral trade is likely to further improve as logistics connectivity, infrastructure projects, and the potential for transit trade become operational.
Further Reading
Russia and Turkmenistan Discuss International North-South Transportation Corridor Rail Cooperation
