Turkmenistan aspires to join WTO

ASTANA. KAZINFORM - Work is underway in Turkmenistan for entering the World Trade Organization (WTO), the Turkmen government's message said.

This work is aimed at the opportunity not only to actively participate in global processes, but also use own competitive advantages in the best way, which will contribute to enhancing the economic status of the country in the international arena, the inflow of loans and investment, the message said.

Phased improvement of the legislation, in particular, the normative legal acts regulating foreign trade relations is being carried out in Turkmenistan for a more active integration into the global economy.

Turkmenistan also actively participates in consultations and meetings held by international financial and economic organizations, monitors the international commodity market.

With a view of studying the issue of Turkmenistan's joining the WTO, a working group was created. The working group analyzes such issues as study of multilateral agreements on trade in goods, which include the General Agreement on Tariffs and Trade (GATT), Agreement on Textiles and Clothing, Agreement on Trade-Related Investment Measures, Agreement on Import Licensing Procedures.

The Agreement on Safeguards, General Agreement on Trade in Services (GATS), Agreement on Trade-Related Aspects of Intellectual Property Rights, Including Trade in Counterfeit Goods, the Understanding on Rules and Procedures Governing the Settlement of Disputes are also being studied.

The procedure for the countries' joining the WTO is multidimensional and defined by Article XII of Marrakesh Agreement Establishing the World Trade Organization. The accession process takes nearly seven years.

The EU proposed Turkmenistan to join WTO in January 2011. Fuel-energy complex, high-technological industrial spheres, transport, communications, banking and financial sector are among the promising areas of cooperation between Turkmenistan and the EU.

Kazinform refers to Trend.az

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