Joining WTO meets Turkmenistan’s interests
Turkmenistan, Ashgabat, June 14 / Trend H. Hasanov /
Accession to the World Trade Organization (WTO) meets long-term interests of Turkmenistan and objectively corresponds to the global trend of economic globalization, 'Turkmen dovlet khabarlary' state information service stated in its commentary.
The commentary says that the corresponding work on the country's accession to the WTO has been conducted since the beginning of the year by order of the President Gurbanguly Berdymuhamedov in all branch ministries and agencies. A government commission was created for this purpose.
The commentary emphasizes that the accession to the WTO is aimed at improving the economic status of Turkmenistan on the international arena, which will facilitate the flow of credit and investment.
After the adoption of the state in the WTO it is subject to the most favored nation regime by all members of the international organization, and is granted common economic benefits.
Turkmenistan which is diversifying and modernizing its economy and implementing large-scale socio-economic programs and projects can get access to modern technologies because their standards are also set up by the WTO system.
Joining the WTO will first of all provide for the development of the areas in which Turkmenistan is most competitive in the world markets, in particular, hydrocarbon resources, which are now estimated at 71.21 billion tons of oil equivalent, the commentary says.
"It is important to emphasize that Turkmenistan's energy strategy is not limited to the export of oil and gas. Its priority component is the construction of new gas and oil refineries," the commentary notes.
Turkmenistan's fuel and energy sector revenues are directed to the implementation of priority national projects, primarily related to the diversification of the economy and the social sphere.