Doing Business in Turkmenistan

Syllabus of the Subject: Doing Business in Turkmenistan. Ashgabat.

1. Introduction to the Republic of Turkmenistan
2. Turkmen Economy
3. Economic Profile of Turkmenistan's Regions
4. Doing Business in Ashgabat
5. Foreign Trade of Turkmenistan
6. Business Opportunities in Turkmenistan
   1. Construction
   2. Textiles
   3. Energy
   4. Food industry
7. Case Study:
   1. Awaza National Tourism Zone
   2. Gap Pazarlama (Textile)
8. Access to the Turkmen Market
9. Business Plan for Turkmenistan

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

1. To analyse the Turkmen economy and foreign trade
2. To evaluate the business opportunities in Turkmenistan
3. To explore Turkmenistan's trade relations with the country of the student
4. To know Turkmenistan's Trade Agreements
5. To examine the profile of the Turkmen Companies
6. To develop a business plan for the Turkmen Market

Sample of the subject - Doing Business in Turkmenistan:

Description of the Subject (Online Learning): Doing Business in Turkmenistan.

The Republic of Turkmenistan.

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

Main religion: Islam

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

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. Main sectors of the Turkmen economy: 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 producer of high-octane gasoline and kerosene 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. Main exports of Turkmenistan are petroleum, carbon, cement, salt, iodine, and grains
2. Exporter of electricity (Afghanistan, Iran, Turkey, and Tajikistan)
3. Construction of the railway Kazakhstan-Turkmenistan-Iran
4. Regional transit centre of railway transport

Turkmenistan has preferential access/FTA.

1. Economic Cooperation Organisation (ECO)
2. Central Asia Regional Economic Cooperation (CAREC) Programme
3. The European Union Generalised System of Preferences (GSP)
4. Commonwealth of Independent States (CIS) (associated)
5. Shanghai Cooperation Organisation (SCO) (Guest Attendance)
6. Armenia-Turkmenistan Free Trade Agreement (FTA)
7. Turkmenistan-Georgia Free Trade Agreement (FTA)
8. Free Trade Agreement (FTA) with the Eurasian Economic Union (EEU)

Turkmenistan is a member of...

1. Organisation of Islamic Cooperation (OIC)
2. Islamic Development Bank
3. World Customs Organisation
4. Economic and Social Commission for Asia and the Pacific (ESCAP)
5. Asian Development Bank (ADB)
6. Asia Cooperation Dialogue (ACD)
7. Boao Forum for Asia
8. Economic Commission Europe (UNECE)
9. Turkmenistan and the Middle East (AMED)
10. European Investment Bank
11. Africa-Asia Strategic Partnership (NAASP)

(c) EENI- Business School & Hispano-African University of International Business