UN implementing project to strengthen Turkmen trade potential

Business Materials 31 January 2020 17:19 (UTC +04:00)

ASHGABAT, Turkmenistan, Jan. 31

By Huseyn Hasanov– Trend:

The United Nations Development Program (UNDP) and the Turkmen ministries of trade and foreign economic relations are implementing a partnership project to strengthen the country’s trade potential, Trend reports referring to the Turkmen Union of Industrialists and Entrepreneurs (UIET).

Achim Steiner, administrator of the UNDP, arrived in Ashgabat on a working visit in order to monitor the implementation of this project, designed for 2019-2021.

The program aims to stimulate export diversification, increase the share of products with higher added value in the structure of exports and reduce the dependence of the national economy on imports.

It is expected that the project will support the development and implementation of measures aimed at ensuring effective access of Turkmen export products to foreign markets, including introduction of new economic mechanisms for an integrated system of distribution of goods from producer to final consumer, the report said.

During the meeting at the UIET, Steiner discussed issues of foreign and domestic trade and the implementation of measures aimed at ensuring effective access of the UIET export products to foreign markets.

The UIET brings together more than 20,000 businessmen and, according to local standards, they are allowed to create joint ventures with foreign partners by attracting their investments.