Azerbaijan, Turkmenistan Eye Joint Ventures And Industrial Projects - Minister

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 13. Azerbaijan and Turkmenistan possess significant resource potential, which opens up opportunities for the creation of joint ventures and industrial complexes, the country's Minister of Economy Mikayil Jabbarov at a gala reception in Baku marking the 35th anniversary of Turkmenistan's independence, Trend 's correspondent reports.

“Our countries possess significant resource potential. This opens up broad opportunities for the creation of joint ventures, industrial complexes, and the processing of natural resources,” the minister noted.

Azerbaijan and Turkmenistan are developing cooperation in the political, trade and economic, energy, transportation, and humanitarian spheres. A declaration on strategic partnership was signed in 2017. An important mechanism for coordinating bilateral relations is the Intergovernmental Commission on Economic Cooperation, which has been in operation since 2008. To date, the parties have signed more than 120 bilateral documents.

In 2025, trade between the two countries totaled $208.39 million: Azerbaijan's exports to Turkmenistan reached $63.85 million, while imports from Turkmenistan amounted to $144.54 million. In June 2026, President of the Republic of Azerbaijan Ilham Aliyev and President of Turkmenistan Serdar Berdimuhamedov held talks in Baku, signed a joint statement, and exchanged documents on cooperation between customs services. The priorities for further cooperation include energy, transportation and logistics, the development of transit routes across the Caspian Sea, and the expansion of trade and economic ties.

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