Representatives of Turkmenistan took part in the second Central Asian Trade Policy Forum, organized by the WTO in partnership with the Asian Development Bank and the International Trade Centre on the topic «Economic integration through accession and membership in the WTO». At the three-day forum in Almaty, which brought together representatives of six regional countries, from the 3rd to 5th of June, discussions took place on key aspects of international trade, the dynamics of intraregional trade turnover and economic integration.
The forum program also included thematic sessions on pre- and post-accession technical assistance, trade facilitation, and the relationship between trade and the environment. WTO General-Director Ngozi Okonjo-Iwealaona delivered the keynote address at the event, highlighting the region's enormous potential and emphasizing how WTO accession and membership can be used to improve regional and international economic integration, attract foreign investment and promote economic growth. Speaking about the region's role as a transit hub for international trade, the WTO General-Director noted the potential of the Trans-Caspian International Transport Route, also known as the Middle Corridor, to improve connections between Europe and Asia and stimulate regional economic growth.
Trade along this corridor has grown impressively in recent years and could triple in volume by 2030. The WTO Trade Facilitation Agreement, which covers customs and transit procedures, will reduce trade costs by more than 11%. And with the addition of digital trade facilitation measures, costs can be reduced even further.
Director General Okonjo-Iweala expressed enthusiasm for increased regional integration efforts, highlighting the role that WTO accession and membership can play in enhancing such efforts and strengthening the international status of Central Asian countries. She noted the progress made by Uzbekistan, Turkmenistan and Azerbaijan in negotiations on accession to the Organization.
Turkmenistan acquired observer status in the WTO in July 2020, and in February 2022, during the next meeting of the WTO General Council in Geneva, the country applied for accession as a full member of the WTO, as a result of which a decision was made to grant Turkmenistan the status of an acceding country («active observer»). With the start of the WTO accession process, the country is actively preparing the initial package of documentation.
At the regular meeting of the government commission held on April 26, 2024 to study issues related to Turkmenistan’s accession to the World Trade Organization, the increasing importance of active interaction between the government of Turkmenistan and the WTO was emphasized in the context of the implementation of the Program for the Development of Foreign Economic Activity of Turkmenistan for 2020-2025, as well as The country's foreign trade strategy for 2021–2030.
The participation of representatives of Turkmenistan in the second Central Asian Trade Policy Forum provided an opportunity to exchange experiences on the WTO accession process with both acceding governments and Central Asian countries that have already joined the Organization, to discuss the opportunities and challenges of WTO accession and post-accession through a regional lens.
Representatives of Turkmenistan took part in the second Central Asian Trade Policy Forum, organized by the WTO in partnership with the Asian Development Bank and the International Trade Centre on the topic «Economic integration through accession and membership in the WTO». At the three-day forum in Almaty, which brought together representatives of six regional countries, from the 3rd to 5th of June, discussions took place on key aspects of international trade, the dynamics of intraregional trade turnover and economic integration.
The forum program also included thematic sessions on pre- and post-accession technical assistance, trade facilitation, and the relationship between trade and the environment. WTO General-Director Ngozi Okonjo-Iwealaona delivered the keynote address at the event, highlighting the region's enormous potential and emphasizing how WTO accession and membership can be used to improve regional and international economic integration, attract foreign investment and promote economic growth. Speaking about the region's role as a transit hub for international trade, the WTO General-Director noted the potential of the Trans-Caspian International Transport Route, also known as the Middle Corridor, to improve connections between Europe and Asia and stimulate regional economic growth.
Trade along this corridor has grown impressively in recent years and could triple in volume by 2030. The WTO Trade Facilitation Agreement, which covers customs and transit procedures, will reduce trade costs by more than 11%. And with the addition of digital trade facilitation measures, costs can be reduced even further.
Director General Okonjo-Iweala expressed enthusiasm for increased regional integration efforts, highlighting the role that WTO accession and membership can play in enhancing such efforts and strengthening the international status of Central Asian countries. She noted the progress made by Uzbekistan, Turkmenistan and Azerbaijan in negotiations on accession to the Organization.
Turkmenistan acquired observer status in the WTO in July 2020, and in February 2022, during the next meeting of the WTO General Council in Geneva, the country applied for accession as a full member of the WTO, as a result of which a decision was made to grant Turkmenistan the status of an acceding country («active observer»). With the start of the WTO accession process, the country is actively preparing the initial package of documentation.
At the regular meeting of the government commission held on April 26, 2024 to study issues related to Turkmenistan’s accession to the World Trade Organization, the increasing importance of active interaction between the government of Turkmenistan and the WTO was emphasized in the context of the implementation of the Program for the Development of Foreign Economic Activity of Turkmenistan for 2020-2025, as well as The country's foreign trade strategy for 2021–2030.
The participation of representatives of Turkmenistan in the second Central Asian Trade Policy Forum provided an opportunity to exchange experiences on the WTO accession process with both acceding governments and Central Asian countries that have already joined the Organization, to discuss the opportunities and challenges of WTO accession and post-accession through a regional lens.
