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Turkmenistan Needs $5 Billion Annually to Stem Gas Output Drop

Turkmenistan needs at least $5 billion in aid to able to meet export commitments to China, Iran and Russia.

Turkmenistan needs at least $5 billion in aid to able to meet export commitments to China, Iran and Russia. The nation has reported a steady decline in natural gas production and the $5 billion a year would be required for the next decade. In order to meet targets, Turkmenistan needs to produce 90 billion cubic meters of gas a year. The problem is not whether or not the national can meet the demands but the lack of investments has led to the decline in gas production. Turkmenistan reportedly has the potential to produce about 14 trillion cubic meters of gas and produced 73 billion cubic meters of gas last year.

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Turkmen Businesses Experiencing Decrease In Trade

Turkmen entrepreneurs have been influenced by the global economic crisis.

Turkmen entrepreneurs have been influenced by the global economic crisis. According to reports Turkmen business experts have reported that trade turnover by small business entities has decreased by 20 to 30 percent since the fall. The influx of labor migrants from Russia and Turkey has also contributed to the rise in the country's unemployment figures. Turkemn President Gurbanguly Berdymukhammedov announced last week that the Turkmenistan economy has been deeply impacted by the global financial crisis.

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Political Stability Can Be Achieved Through Economic Means: Turkmen President

Turkmenistan President, Gurbangulu Berdymuhamedov, believes that political stability can be achieved through economic measures

Turkmenistan President, Gurbangulu Berdymuhamedov, believes that political stability can be achieved through economic measures. This statement was announced at the Economic Cooperation Operation summit in Teheran. Turkmenistan is participating at the summit as an associate member. The nation has reaffirmed the commitments and agreements reached prior to the implementation of major joint projects. Since joining ECO, Turkmenistan has introduced a number of initiatives such as energy security, water and energy issues, and transport and communication corridors. Some of the strategic initiatives includes diversifying the energy and transport infrastructures such as a railway construction between Kazakhstan, Turkmenistan and Iran.

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Turkmenistan to Raise Maternity and Disability Allowances Starting 1 July

Turkmenistan is seeking to increase maternity and disability allowances starting 1 July.

Turkmenistan is seeking to increase maternity and disability allowances starting 1 July. Turkmen President Gurbanguly Berdimuhamedov signed the law for social welfare. The law has been published in the central print media of Turkmenistan. The newly instated law would raise the maternity grant amounts as well as a monthly maternity allowance. The increased amount will be paid to mothers with under 3-year old children, previously under 1.5 year age limit. Other amendments also include raised allowances to disabled people of 1st, 2nd and 3rd groups of disability.

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Turkmens Seek Investors for Agriculture Sector

The Turkmenistan Agricultural Sector is looking for private investment, in order to boost productivity.

The Turkmenistan Agricultural Sector is looking for private investment, in order to boost productivity. President Gurbanguli Berdymukhamedov's remarks mark a significant change in economic policies from his autocratic predecessor. The announcement for private investment is aimed towards decreasing government funding and improve the conditions for private involvement. Since President Berdymukhamedov has come to power Turkmenistan is still ranked 169th out of 179 countries in the U.S. Based Heritage Foundation's index of economic freedom. The President is seeking investments in all agricultural sectors including cotton, wheat, cultivation of crops, including vegetables and fruits.

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Turkmenistan's Yolotan-Osman Field Is a 'Super Giant'

Turkmenistan's Yolotan-Osman is said to be one of the largest undeveloped natural-gas field.

Turkmenistan's Yolotan-Osman is said to be one of the largest undeveloped natural-gas field. This news comes after the government commissioned to survey the country's reserves. The field is reported 75 kilometers long and 35 kilometers wide and has a gas column of 500 meters, potentially holding 6 trillion cubic meters of gas. The field has come into spotlight with gas importers competing for supplies from Turkmenistan. Several wells have been drilled with China, Iran and Russia receiving majority of the fuel. Currently, the largest gas deposit provider is North Field-South Pars controlled between Qatar and Iran.

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U.S. Funds Border-Crossings In Turkmenistan

The United States has come to the aid of Turkmenistan to fund border-crossing stations to prevent smuggling.

The United States has come to the aid of Turkmenistan to fund border-crossing stations to prevent smuggling. The Turkmen border is said to be a key entry point for narcotics and other illegal materials such as radioactive, biological, and chemical agents. The U.S. Embassy spokesman said that the United States military has helped construct the border-crossing stations along Turkmenistan's borders with Iran and Afghanistan. The spokesman also stated that similar project is under way along the Turkmen-Uzbek border too. Each crossing stating is estimated to cost $5.5 million.

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EBRD Says Turkmenistan Progressed Economically

Although there has been plenty of grim news coming out from global media outlets, Turkmenistan has said to have progressed economically according to the European Bank for Reconstruction and Development's (EBRD).

Although there has been plenty of grim news coming out from global media outlets, Turkmenistan has said to have progressed economically according to the European Bank for Reconstruction and Development's (EBRD). The transition reports that Turkmenistan is progressing in carrying out economic reforms, but does state that the country still has a long way to go in reforming and growing its private sector. One sector that has done well has been the gas-sector. Gas is the main GDP contributor and forecasts the GDP growth.

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Energy Projects Need International Audit - Uzbek, Turkmen Leaders

On 25 February, Uzbek President Islam Karmov and Turkmen President Gurbanguly Berdimuhamedow stated that trans-border projects that include construction of power plants require international auditing.

On 25 February, Uzbek President Islam Karmov and Turkmen President Gurbanguly Berdimuhamedow stated that trans-border projects that include construction of power plants require international auditing. The call for international auditing has been called upon by Uzebek President Islam Karmov, who questions the benefits of the construction of power plants and the effects of building hydroelectric power plants on the Syrdarya and Amudarya rivers. The Turkmen President did not reject Islam Karmov's call for an objective view, instead, he too called for an international audit.

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Russian Auto Giant Brought Back from Brink by Turkmenistan

Kamaz – Russian auto giant- has already stopped production three times since the onset of the global financial and economic crisis

Kamaz – Russian auto giant- has already stopped production three times since the onset of the global financial and economic crisis. The auto giant has re-started production due to a huge order from Turkemenistan; Turkemnistan has said to have ordered 1,040 vehicles with a total value of nearly $100 million. The ministry of Trade and Foreign Economic Relations shall purchase the vehicles and parts for the municipality of Ashgabat and provincial administrations. The order also aids in revamping Kamaz's image, where Kamaz trucks shall be featured during the Kazan-Ashgabat rally.

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EU Weighs Image Energy in Relations with Turkmenistan

The Interim Trade Agreement (ITA) with Turkmenistan is said to have finally received the green light from the European Parliament.

The Interim Trade Agreement (ITA) with Turkmenistan is said to have finally received the green light from the European Parliament. The ITA had been blocked since 2006 by the European Parliament when Turkmenistan failed to improve its dismal human rights record. ITA has now been given clearance due to the disputes between Russia and Ukraine and the need for energy . Although members of the EU are advocating diversifying energy agreements the plan to unblock the ITA remains contentious in the EU.

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