Iran and Turkmenistan aim for $3bn annual trade turnover

Iran and Turkmenistan have emphasized broadening and expanding bilateral trade in the fields of energy, transit, border trade, and technical and engineering services, with the two sides targeting an annual trade turnover of $3 billion. The two countries share about 1,000 kilometers of common border, and Iran serves as an access route for Turkmenistan to the Persian Gulf and southern markets. In turn, Turkmenistan is a key route for Iran to connect with Central Asia and a source for meeting a portion of the country's energy needs.

At the 18th meeting of the Iran-Turkmenistan Joint Commission for Economic Cooperation, held in Tehran in May 2025, the two sides explored avenues for broadening cooperation in transportation, energy, agriculture, industry, investment, and standards, in addition to trade. The meeting underscored the mutual interest in deepening economic ties across multiple sectors.

According to the latest statistics released by the Islamic Republic of Iran Customs Administration (IRICA), Iran's non-oil exports to neighboring Turkmenistan in the first nine months of the previous Iranian calendar year (March 21 to December 21, 2025) reached $495 million. Despite restrictions ahead of bilateral trade, officials of the two countries have intensified efforts to enhance bilateral trade in the current Iranian calendar year, which started on March 21, 2026.

The report by Mehr News added that Tehran and Ashgabat continue to work toward expanding cooperation, with the joint commission serving as a platform for advancing economic and trade relations.