Business in Turkmenistan

EENI- School of International Business

Subject: Doing Business in Turkmenistan. Ashgabat. Syllabus:

1. Introduction to the Republic of Turkmenistan
2. The Turkmen Economy
3. The Economic Profile of Turkmenistan's Regions
4. Doing Business in Ashgabat
5. The Foreign Trade of Turkmenistan
6. Business Opportunities in Turkmenistan
   1. Construction
   2. Textiles
   3. Energy
   4. Food industry
7. Case Study:
   1. The 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: Doing Business in Turkmenistan.

The Republic of Turkmenistan.

1. Turkmenistan shares borders with Afghanistan, Kazakhstan, Iran, and Uzbekistan
2. The Turkmen Population: 5 millions of people
3. 85% of the population are Turkmen
4. Area: 491,000 square kilometres
5. Capital: Ashgabat
6. The 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. The Turkmen independence: 1991 (URSS)
11. Turkmenistan is a Presidential Republic
12. The main religion: Islam
13. Turkmenistan belongs to the Sunni-Turkic area of the Islamic Civilisation

The Turkmen Economy.

1. Agriculture: 80% of Turkmenistan is farm lands
2. Significant water resources (Karakum River)
3. The Turkmen Mineral resources: hydrocarbon, mining, salt, boron, magnesium, potassium, rubidium, and bentonite
4. Drilling and exploration for petrol and gas
5. The Turkmen industrial sector: petrol and gas, chemical, electric power, engineering, and textile (60 textile complexes)
6. The 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. The Turkmen currency: The Manat
10. Turkmenistan is one of the ten most corrupt countries

The Foreign Trade of Turkmenistan.

1. The 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 Social Commission Asia-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)