Representatives of leading companies from the United States were in Turkmenistan this week, reflecting efforts to deepen the economic relationship between the two countries.
Business executives and government officials from both sides met at Turkmenistan’s Chamber of Commerce and Industry in Ashgabat on June 3. The discussions followed a visit by Turkmen business leaders to the U.S. last month, during which they attended the SelectUSA Investment Summit in Maryland and other events.
The forum in Ashgabat included representatives from U.S. companies Climate Compass, CNH Industrial, Coca-Cola, John Deere, Palo Alto Networks, Sig Sauer, Valley Irrigation, and Westport Trading Europe Limited, the state-run Turkmenistan News Portal reported.
Nokerguly Atagulyyev, deputy chairman of the Cabinet of Ministers, led the Turkmen side. The American delegation was led by Eric Stewart, head of the U.S.-Turkmenistan Business Council and former deputy assistant secretary for Europe and Eurasia at the U.S. Department of Commerce.
While participants acknowledged that American companies have been operating in Turkmenistan for many years, “the high interest of the U.S. business community in deepening effective bilateral cooperation was confirmed,” the Turkmen outlet said.
It said key areas for collaboration included energy, transport, communications, the agro-industrial complex and the high-tech sector.
U.S. goods trade with Turkmenistan was $152.7 million in 2025, according to U.S. government data. U.S. goods exports to Turkmenistan last year were $113.3 million, up 43.6% from the previous year, and U.S. goods imports from Turkmenistan were $39.4 million, up 169% from 2024.
While those numbers are relatively low compared to the volume of trade between the U.S. and its bigger trading partners, the annual percentage increase is notable.
Turkmenistan has major reserves of natural gas and oil, making it an attractive place for foreign companies to explore projects, according to the U.S. Embassy in Ashgabat. However, the embassy says, Turkmenistan has yet to “implement reforms needed to create an inviting business climate where foreign investment and foreign investors are truly welcomed.”
