According to the request of President Gurbanguly Berdimuhamedov, Permanent Representative of our country at the UN Department in Geneva as well as representatives of the Foreign Ministry, Ministry of Trade and Foreign Economic Affairs, Ministry of Finances and Economy took part in the session by video conference format.
After discussion, the state members of the WTO General Council have unanimously made a decision on giving the status of observer in the World Trade Organization to our country.
President Gurbanguly Berdimuhamedov notes the WTO is the only global international organization that regulates rules of trade between its members. It is based on relative agreements concluded, signed and ratified by the majority countries of the world.
Rules of the WTO are the targets for development and practical implementation of national legislation in trade and economic relations. The main goal of the organization is stable, forecasted and free trade relations between member states.
164 countries are the members of the WTO at the moment. Number of states has the status of observer. Turkmenistan has become the 25th state, which receive this status.
The advantage of the observer status in the World Trade organization is in making of opportunities for the country to develop its production, increase volume of export as well in provision of stable course toward continuation of market reforms.
At the same time, it will support rapid integration to the world process of production, scientific, technical and cultural development, improvement of business environment and stimulation of competition.
The status of observer gives opportunity for participation in official events of the WTO and opens an access to its main documents as well as to the programmes of technical cooperation in trade provided by this organization.
It is worth to mention that big targeted work has been carried out for bringing of cooperation with the world Trade Organization to new level and obtaining of the status by Turkmenistan.
In particular, in his speech at the opening ceremony of the First Caspian Forum inAvaza National Tourist zone last year, the Head of the State outlined the WTO as one of the main international platforms for establishment of efficient trade relations with foreign markets, which provides protection from unfair competency, and work on clear and transparent principles
In addition, the President said about readiness of our country to activate cooperation with competent financial institutions including the WTO during International Conference “Turkmenistan and International Organizations: Cooperation for Peace and Development” on January 14 this year.
As is known, the process of study of issue of joining of the country to the WTO has started on January 24, 2013 from the establishment of relative Government Commission at the request of the Head of Turkmenistan. For a long time, it has been reviewing in details all aspect of cooperation with the WTO, which would meet national interests of Turkmenistan, has been studying practice of countries, which have already joined to the organization, multilateral trade agreements required for participation in this organizations as well as many other subjects.
According to the Resolution of the President of Turkmenistan from July 15, 2019, the composition of the Government Commission has been renewed to include the main departments responsible for foreign economic activity of the country for activation of activity in this direction and giving new impulse to it.
Number of different events including profile seminars, meetings, high-level Forum “Central Asia and Multilateral Trade System” organized in Ashgabat in May 2016 have been held in the context of intensification of the partnership with the WTO for the last years.
The first session of renewed Government Commission has been held on July 30, 2019. By the outcomes of the session, the necessity of starting of active phase of development of cooperation with the WTO by obtaining of the status of observer has been stated.
The delegation of the World Trade Organization took part in the first Caspian Economic Forum in August last year, which forestalled national seminar in joining the WTO, as well as in bilateral meetings with representatives of Turkmen side.
The decision on further specific measures for intensification of cooperation with the WTO has been made at the second session of the Government Commission on August 28, 2019.
The conclusion that participation of Turkmenistan in the WTO in the status of observer would support dynamic development of national economy has been made by the outcomes of the third and fourth sessions held in April and May this year.
On May 15, 2020, President Gurbanguly Berdimuhamedov signed the Resolution, having approved the proposal on joining of Turkmenistan to the World Trade organization as observer. Based on this document, Turkmen side has sent relative application letter and review of economic policy and foreign trade mode of Turkmenistan to the WTO General Director.
As it was mentioned above, the application of our country has been reviewed at regular session of the General Council in the headquarter of the World Trade Organization in Geneva on July 22 and unanimous decision on giving of the observer status to Turkmenistan has been unanimously taken.
The Programme of development of foreign economic activity of Turkmenistan in 2020 – 2025 approved by the Resolution of the President of Turkmenistan has given additional stimuli to expansion of efficient relations with the WTO.
Number of factors indicates the relevance of joining of our country to the WTO.
Thus, participation in activity of the World Trade Organization as observer is recognized as an important element of development of market relations on high international level and in accordance with universal rules in Turkmenistan.
This status will increase export capabilities of the country and make favourable conditions for increment of competiveness of national commodities and their active promotion in the world markets.
It will also support efficient integration of Turkmenistan to international trade and economic space.
Direct participation of our state in activity of the WTO will be an important factor of expansion of cooperation with the leading international economic, financial, trade and investment structures.
As is known, special attention in foreign economic strategy of Turkmenistan is paid to attraction of foreign investments and development of trade relations.
In this context, joining to the WTO will provide guarantees and transparency for investors and trade partners of the country. Joining to the World Trade Organization will also allow Turkmenistan advancing its positions in commercial subjects and finding their rapid solution.
Therefore, obtaining of the observer status of the WTO is new actual step in strengthening of positions of Turkmenistan in modern system of international coordinates.