Turkmenistan, home to the world's fourth-largest reserves of natural gas, has traditionally been dependent on its extractive industry for economic growth. However, there has been a notable shift in the country's economic strategy towards embracing a greener and more diversified economy. This transition includes efforts to increase the domestic use of renewable energies and to mitigate methane emissions.
Additionally, Turkmenistan has taken a significant step towards integrating into the global economy by expressing its intent to join the multilateral trading system. In February 2022, Turkmenistan achieved the status of an acceding country to the World Trade Organisation (WTO).
Our partnership
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.
The European Union is dedicated to supporting Turkmenistan's efforts to transition towards a more sustainable, green economy while simultaneously enhancing its business environment. This commitment is underscored by the EU-Turkmenistan Interim Agreement on trade and trade-related matters, which has been in effect since August 2010, in anticipation of the European Parliament ratifying the Partnership and Cooperation Agreement (PCA).
In alignment with the EU Strategy on Central Asia announced in June 2019, its related Council conclusions, and the Global Gateway Strategy, the EU has developed a detailed framework for regional engagement.
Under the Multiannual Indicative Programme (MIP) for the period 2021-2027, facilitated through the Neighbourhood, Development, and International Cooperation Instrument (NDICI-Global Europe), the EU has allocated €18 million to strengthen its partnership with Turkmenistan.
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
- Water, climate change and energy
Dedicated to enhancing integrated water-energy resource management regionally, this initiative supports food security, job creation, and sustainable growth in Central Asia, including increased investment for a green transition through a dedicated regional Team Europe Initiative.
- Digital connectivity
Establishing a supportive environment for digital connectivity, this initiative promotes regulatory and legislative reforms, enhancing last-mile access for vulnerable communities and ensuring cybersecurity, all while upholding high standards of sustainability and inclusiveness.
- Transport
The EU is deeply committed to strengthening 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
Support in this sector is directed towards policy dialogue and technical assistance for reducing methane emissions, improving energy efficiency, and advancing renewable energy sources.
- Business climate
Efforts here aim to support economic development and create decent work opportunities, with a special emphasis on empowering women and youth-led micro, small, and medium-sized enterprises (MSMEs). Additionally, support is provided to assist Turkmenistan in its accession process to the World Trade Organisation.
- Civil society
Enhancing the capacity of Turkmen civil society organisations to participate in policy dialogue at the national level is a key priority. This includes involvement in the development, implementation, and monitoring of national programmes and plans across various sectors such as social affairs, disabilities, environment, energy, and climate change. EU support is also focused on amplifying the voices of women, girls, and youth to ensure their active participation in policy-making and implementation processes related to social inclusion, gender equality, economic development, and environmental sustainability.