Turkmenistan: New Economic Protocol Signed with Turkey

Ashgabat and Ankara have pledged to increase economic cooperation. The announcement came at the end of a visit by Turkish Energy Minister Taner Yildiz to Ashgabat during which he met President Gurbanguly Berdymukhamedov and a series of ministers, news agencies report on May 22.

Investors were also invited to participate in Turkmenistan's flagship tourism project, the billion-dollar Avaza resort on the Caspian coast near Turkmenbashy. Turkmen authorities also solicited investment for the country's two main economic sectors -- energy and textiles.

Turkish companies have long maintained a presence in Turkmenistan. Polimeks, a construction giant, recently won contracts worth $1 billion for projects in Ashgabat. Polimeks is also building the airport at Avaza. Turkmen news reports say it will be operational in October.