The 2009 Investment Protection Agreement (IPA) between Italy and Turkmenistan entered into force on 21 September 2020. Italy announced this through publication in Official Gazette No. 206 on 3 September 2024. The agreement will remain valid for ten years and continue for another five years unless either country chooses to terminate it.
The aim of this agreement for the Italian Government is that it may leverage economic and cultural cooperation to enhance its relationships with Turkmenistan. On the other hands, Turkmenistan seeks foreign direct investments (FDIs) to fuel infrastructural development, boost economic growth, and diversify its economy, which is rich in natural resources.
