14 Feb 2025 18:37

Turkey plans to double trade with Turkmenistan to $5 bln per year

ASHGABAT. Feb 14 (Interfax) - Trade between Turkey and Turkmenistan totaled $2.166 billion in 2024 and could more than double to $5 billion per year before long, Turkmenistan's State Television and Radio Broadcasting quoted the Turkish ambassador to Turkmenistan, Ahmet Demirok, as saying on its news website.

Demirok did not say when this might be achieved.

"Trade between the two countries amounted to $2.166 billion in 2024. We are confident this figure will reach $5 billion in the near future," he said.

Trade last year fell 16.7% from $2.6 billion in 2023. Even so, Turkey and Turkmenistan are actively developing cooperation in such areas as energy, economics, trade, transport, culture and education, Demirok said.

He said Turkey was one of the biggest investors in Turkmenistan. "Turkish companies have carried out more than 1,000 projects in the country worth more than $50 billion," he said.

Turkmenistan and Turkey signed a memorandum on gas cooperation in March 2024. Later, Turkish Energy and Natural Resources Minister Alparslan Bayraktar said Turkey expected to buy up to 2 billion cubic meters of gas from Turkmenistan through swap supplies via Iran. Turkmen Foreign Minister Rashid Meredov said Turkmenistan was keen to supply more gas and electricity to Economic Cooperation Organization countries including Turkey.