Doing Business in Turkmenistan

The aims of the subject “Foreign Trade and Business in the Republic of Turkmenistan” are the following:

1. To analyze the Turkmen Economy and International Trade;
2. To know the business opportunities in Turkmenistan;
3. To explore the Turkmen trade relations with the country of the student;
4. To know the Turkmen Trade Agreements;
5. To examine the profile of Turkmen Companies;
6. To develop a business plan for the Turkmen Market.

The Subject “Foreign Trade and Business in Turkmenistan” belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Masters (MIB): International Business, Foreign Trade.

Doctorate (DIB): Islamic Business, Asian Business, World Trade.

Learning materials in (or Turkmenistán Turkménistan).

1. Credits of the subject “Foreign Trade and Business in Turkmenistan”: 1 ;
2. Duration: one week.

1. Almaty-Bishkek Economic Corridor;
2. Eurasian Land Transport Initiative (Silk Road);
3. International Transport and Transit Corridor of the Ashgabat Agreement;
4. China-Central Asia-West Asia Economic Corridor;
5. Trans-Caspian Trade and Transit Corridor (Central Corridor);
6. Afghanistan-Turkmenistan-Azerbaijan-Georgia-Turkey Transport Corridor (Lapis Lazuli);
7. Access to the:
   1. Kyrgyzstan-Tajikistan-Afghanistan-Iran Transport Corridor (KTAI-ECO);
   2. China-Pakistan Economic Corridor;
   3. India-Chabahar (Iran)-Afghanistan Economic Corridor;
   4. International North-South Transport Corridor (India-Russia);
   5. Islamabad-Tehran-Istanbul Rail and Road Corridor (ITI-ECO) (not ratified).
8. Transit and Transport Cooperation Agreement (Lapis Lazuli Route Agreement);
9. Iran-Pakistan-Turkey Transit Transport Framework Agreement (TTFA) - has not ratified the TTFA;
10. Transport Corridor Europe-Caucasus-Asia (TRACECA) - is not a member, but has requested the access.

Turkmen Preferential Access and Free Trade Agreements:

1. Turkmenistan and the Central Eurasian Economic Area;
2. Economic Cooperation Organization (ECO);
3. Central Asia Regional Economic Cooperation (CAREC) Programme;
4. European Union: Generalized System of Preferences (GSP);
5. Armenia-Turkmenistan Free Trade Agreement (FTA);
6. Turkmenistan-Georgia Free Trade Agreement (FTA);
7. Ukraine-Turkmenistan Free Trade Agreement;
8. Russia-Turkmenistan Free Trade Agreement (FTA);
9. Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU);
10. Islamic Trade Preferential System (TPS-OIC);
11. Commonwealth of Independent States (CIS) (associated);
12. Shanghai Cooperation Organization (SCO) (Guest Attendance).

1. World Trade Organization (WTO) - Government with observer status;
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC).
3. Organization for Cooperation between Railways (OSJD);
4. International Bureau of Containers and Intermodal Transport (BIC);
5. International Civil Aviation Organization (ICAO, Chicago Convention);
6. International Maritime Organization (IMO);
7. International Road Transport Union (IRU)
   1. TIR Convention;
   2. Guidelines on Safe Load Securing for Road Transport.

Islamic Organizations:

1. Organization of Islamic Cooperation (OIC)
   1. Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC);
   2. Islamic Chamber of Commerce and Industry (ICCI);
   3. Islamic Centre for Development of Trade (ICDT);
   4. Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC).
2. Islamic Development Bank (IsDB);
3. Asia-Middle East (AMED).

Euro-Asian Trade and Economic Organizations:

1. Boao Forum for Asia;
2. European Investment Bank;
3. Economic Commission for Europe (UNECE);
4. Organization for Security and Cooperation in Europe (OSCE);
5. Africa-Asia Strategic Partnership (NAASP);
6. Economic and Social Commission for Asia and the Pacific (ESCAP);
7. Asian Development Bank (ADB);
8. Asia Cooperation Dialogue (ACD).

Global Organizations:

1. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD);
   2. International Trade Centre (INTRACEN);
   3. World Intellectual Property Organization (WIPO).
2. World Bank (WB);
3. World Trade Organization (WTO);
4. International Monetary Fund (IMF).

The Republic of Turkmenistan.

1. Turkmenistan shares borders with Afghanistan, Kazakhstan, Iran, and Uzbekistan;
2. Turkmen Population: 5 million people;
3. 85% of the population are Turkmen;
4. Area of Turkmenistan: 491,000 square kilometers;
5. Turkmen Capital: Ashgabat;
6. Official language of Turkmenistan: Turkmen (Turkic group of languages)
   1. English and Russian are widely spoken.
7. The Great Silk Road passes through Turkmenistan;
8. Territorial organization of Turkmenistan: five velayats (Ahal, Balkan, Dashoguz, Lebap, and Mary);
9. Turkmen independence: 1991 (URSS);
10. Turkmenistan is a Presidential Republic.

Main religion: Islam.

Turkmenistan belongs to the Sunni-Turkic area of the Islamic Civilization

Foreign Trade and Business in Turkmenistan:

Turkmen Economy.

1. Agriculture: 80% of Turkmenistan is farm lands;
2. Significant water resources (Karakum River);
3. Turkmen Mineral resources: hydrocarbon, mining, salt, boron, magnesium, potassium, rubidium, and bentonite;
4. Drilling and exploration for petrol and gas;
5. Turkmen industrial sector: petrol and gas, chemical, electric power, engineering, and textile (60 textile complexes);
6. The main sectors of the Turkmen economy are petrol and gas, power engineering, agriculture, construction, transport and communications, chemical, textile, and building materials;
7. The Turkmenbashi complex of petroleum refineries is the largest high-octane gasoline and kerosene producer in Central Asia;
8. Gas pipelines to China and Iran;
9. Turkmen currency: Manat;
10. Turkmenistan is one of the ten most corrupt countries.

Foreign Trade of Turkmenistan.

1. The main exports of Turkmenistan are petroleum, carbon, cement, salt, iodine, and grains;
2. Turkmenistan is an Electricity exporter (Afghanistan, Iran, Turkey, and Tajikistan);
3. Construction of the Kazakhstan-Turkmenistan-Iran Railway;
4. Regional transit centre (Rail transport).

(c) EENI Global Business School (1995-2023)
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