What are Turkmenistan's benefits within WTO?

Turkmenistan Materials 25 July 2020 13:48 (UTC +04:00)
What are Turkmenistan's benefits within WTO?

BAKU, Azerbaijan, July 25

By Jeila Aliyeva - Trend:

Turkmenistan hopes that participation in the World Trade Organization (WTO) will help the country's economy gain stability, strengthen its position in foreign trade, and facilitate attracting foreign investment, head of the Central Asia sector at the Institute of World Economy and International Relations of Russian Academy of Sciences (IMEMO RAS), Dina Malysheva told Trend.

By obtaining this status, the Turkmen side intends to develop those areas of the economy in which it is competitive, in particular energy.

"Among those who supported the initiative of Turkmenistan to become observer at WTO were such WTO member states as Afghanistan, Kazakhstan, Kyrgyzstan, India, Pakistan, Russia, and Tajikistan," Malysheva added.

Turkmenistan received observer status in the WTO on July 22, 2020, during a meeting in Geneva. Meanwhile, Turkmenistan applied for observer status in the WTO in May 2020.

As it was reported earlier, representatives of Turkmenistan and WTO discussed an overview of Turkmenistan’s trade and economic policy prepared by WTO.

A special government commission has been established in Turkmenistan to follow up the issues of Turkmenistan's accession to the World Trade Organization.

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