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Turkmenistan to create state commission for accession to WTO

Turkmenistan Materials 26 January 2013 09:28
According to the decree of President Gurbanguly Berdimuhamedov, a government commission will be created in Turkmenistan for the country's accession to the World Trade Organisation (WTO), the official Turkmen source said.
Turkmenistan to create state commission for accession to WTO

Turkmenistan, Ashgabat, Jan. 25 / Trend H. Hasanov /

According to the decree of President Gurbanguly Berdimuhamedov, a government commission will be created in Turkmenistan for the country's accession to the World Trade Organisation (WTO), the official Turkmen source said.

As stated in the recently signed document, it will promote reliable and efficient integration of Turkmenistan in the global economy, improve competitiveness of the industries created in the country and issued products, establishing market relations on a legislative basis meeting international standards.

This issue was discussed at the Cabinet meeting, the Turkmen government reported. It is expected that the commission will be entrusted to study the WTO agreements and rules and analyse the impact of the Turkmenistan's accession to the WTO on the national economy.

According to the report, mentioning this topic the Turkmen leader noted "the need to improve trade, financial and investment regulations, maintenance of foreign exchange, creation of free pricing mechanism, elimination of trade and tariff barriers, personnel training, and overall implementation of policy aimed at the development of a free market."

The European Union, represented by European Commission President Jose Manuel Barroso proposed Turkmenistan was accepted into the WTO in January 2011.

"This will increase the share of Turkmenistan in regional and global trade, and have a positive impact on economic development which is necessary for long term prosperity and well-being," Barroso said during his visit to Ashgabat.

A senior EU official said he is ready to support Turkmenistan's accession to WTO. He added that the WTO optimises attracting foreign capital and facilitates the creation of new jobs.
Energy, a high tech industry, transport, communications, banking and the financial sector are among the promising areas of cooperation between Turkmenistan and the European Union.

As is known, at this stage Turkmenistan will hold negotiations with the EU and Azerbaijan on the construction project of the Trans-Caspian gas pipeline which could be part of the Nabucco transnational project.

Brussels hopes to diversify the sources of gas consumption, most of which is currently ensures by Russia, through Caspian resources.

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