Turkmenistan will set up a working commission to develop a memorandum on Turkmenistan's foreign trade regime, the submission of which is one of the conditions for accession to the World Trade Organisation (WTO).

According to local TV channel Altyn Asyr, a decree to this effect was signed by Turkmen President Serdar Berdimuhamedov "with the purpose of effective integration into the structure of the world economy".

 

Turkmenistan is the last former Soviet republic to initiate WTO accession negotiations. The WTO received observer status in July 2020 and became an acceding country in February 2022. The goal is to join the organization by 2030.

Turkmenistan set to be to liberalise trade by removing barriers such as import tariffs, quotas, export subsidies, dumping practices and other rules that restrict the free movement of trade.

Credits: Eziz Boyarov, Ashgabat