Turkmenistan to activate work for obtaining observer status in the WTO

At the session of the Government on May 1, Vice-premier, Foreign Minister R. Meredov informed the Head of the State about measures for intensification of cooperation between Turkmenistan and the World Trade Organization.

In this regard, it was noted that the World Trade organization is the only global structure, which carries out its activity in coordination of trade relations between the countries of the world, in setting of international standards and their implementation. At present time, 164 states are the members of the WTO. At the same time, 24 countries have the status of observers of this organization.

Relative Government Commission was formed by the Resolution of the Head of the State from July 15, 2019 for study of matters related with bringing of cooperation with the World Trade Organization to new level.

By the outcomes of sessions and consultations with the WTO representatives and international experts, it was determined that participation of our country in activity of this organization in the status of observer as a first measure would open wide perspectives for further modernization of national economy.

In particular, it will give opportunity for participation of Turkmenistan in official evetns, main meetings and forums of the WTO, for intensification of bilateral contacts on the level of profile specialists and by exchange of delegations as well as for promotion of national initiatives on development of regional and international trade under this competent organization. At the same time, new impulse would be given to the partnership with such big international structures as European Union, UNECE, ESCATO, World bank and Asian Development Bank.

Following what was mentioned above and based on the legislation of Turkmenistan and international practice, it is proposed to carry out relative work for obtaining of the observer status in the WTO by our country.

Focusing on perspectives of joining to the World Trade Organization, the President highlighted that in modern conditions, steadfast integration of Turkmenistan to the world trade and economic system is an important factor of development of market relations, intensification and diversification of export potential of the country, enhancement of its investment attractiveness.

Therefore, measures for bringing of cooperation with the WTO to new level and obtaining of observer status in this organization will give opportunity to Turkmenistan not only to participate actively in global processes but also to use its competitive advantages successfully.

It would support to the strengthening of positions and authority of the country in the world arena, expansion of spectrum of beneficial cooperation with foreign partners, the President said, having ordered the Vice-premier, Head of the Foreign Ministry to continue working in this direction. Source: Turkmenistan: the Golden Age Online Newspaper

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