Turkmenistan holds the world's fourth largest reserves of natural gas and its economy is heavily reliant on extractive industry. In recent years, the country has shown increased interest in developing a greener and more diversified economy, by upscaling the domestic use of renewable energies and reducing methane emissions.
Another significant positive development is the country’s willingness to become a member of the multilateral trading system: Turkmenistan was granted status of acceding country to the World Trade Organization in February 2022.
The EU supports Turkmenistan to green its economy and improve the business environment, in line with the EU-Turkmenistan Interim Agreement on trade and trade-related matters, which entered into force in August 2010, pending ratification of a Partnership and Cooperation Agreement (PCA) by the European Parliament.
The EU adopted a Multi-annual Indicative Programme (MIP) for the period 2021-27 under the Neighbourhood, Development and International Cooperation Instrument (NDICI-Global Europe). Under that framework, the EU allocated €18 million to the partnership with Turkmenistan over 2021-27.
Turkmenistan also benefits from a number of EU regional programmes and investments under the European Fund for Sustainable Development Plus (EFSD+), Global Gateway’s main financial tool.
Our flagship initiatives
Team Europe in Turkmenistan focuses its actions on several key sectors:
Water, climate change and energy - to improve regional integrated water-energy resource management, promote food security, decent jobs, and growth and sustainable development in Central Asia, as well as increased investment for a green transition through a dedicated regional Team Europe Initiative
Digital connectivity - to establish an enabling environment for digital connectivity, promote regulatory and legislative reforms, last mile access for vulnerable communities, and cybersecurity by following higher standards in terms of sustainability and inclusiveness through a dedicated regional Team Europe Initiative
Transport - the EU also commits strongly to strengthen its engagement for improving transport connectivity along the Trans-Caspian Corridor with Central Asia, including with Turkmenistan, following the recommendations of the Study on Sustainable Transport Connections between Europe and Central Asia
Green economy - to support policy dialogue and provide technical assistance in sectors such as methane emissions’ reduction, energy efficiency and renewable energy
Business climate - to support economic development and decent work, with a particular focus on women and youth-led micro, small and medium-sized enterprises (MSMEs), as well as participation in the process of accession to the World Trade Organization
Civil society - to strengthen capacities of Turkmen civil society organisations to engage in policy dialogue at national level, and in dialogue on, and implementation and monitoring of national development programmes and plans in the areas of social affairs, disabilities, environment, energy and climate change. EU support also contributes to enhancing the voices of women, girls and youth to better engage in social, gender, economic and environmental policy making and implementation.