In 2024, Turkmenistan’s trade turnover with the member states of the Gulf Cooperation Council (GCC) increased by 9.9 times compared to 2020.

According to data published on Tuesday by the Eurasian Development Bank (EDB), Turkmenistan ranks among the leading Central Asian republics in terms of trade volume with GCC countries. The total value of bilateral trade reached $2 billion.

The total trade volume between the entire Central Asian region and the Gulf states amounted to $3.3 billion, marking a 4.2-fold increase compared to 2020, EDB experts noted.

The United Arab Emirates remains the region’s top trading partner, accounting for 97% of Central Asia’s total trade with the Gulf countries.

According to EDB analysts, Central Asian countries have strong potential to expand exports of metallurgical and agricultural products, while GCC member states are interested in increasing exports of automobiles, electronics, and jewelry.

The Gulf Cooperation Council (GCC), established in 1981, comprises six countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.