Azernews.Az

The accession to WTO was top on agenda at a three-day Trade Policy forum: Central Asia and the Multilateral Trading System that was held in Turkmenistan on May 11-13, 2016.

Other issues also included simplification of trade procedures in Central Asia, and regional integration are at the top of the agenda.

The event was organized by The United Nations Economic Commission for Europe (UNECE), in partnership with the World Trade Organization (WTO) and the Government of Turkmenistan. Delegates from United Nations Special Programme for the Economies of Central Asia countries (SPEKA) - Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Iran and Belarus as well as German Corporation for International Cooperation (GIZ) “Support to regional trade in Central Asia” program countries participated in the forum.

The issues discussed were of top-priority in the sphere of trade policy for senior policy makers in Central Asia. Among the key objectives of the forum are strengthening interregional cooperation in Central Asia, promoting the integration of Central Asia into multilateral trading system, implementing the trade facilitation measures, and developing regional supply chains through the removal of barriers to trade within the region.

Turkmenistan, a country that hosted the forum, is currently engaged in activities connected with WTO membership and takes bids to improve economic status of the country in the world and increase inflow of investments.

The country actively participates at meetings held by international financial institutions and economic organizations, WTO-led forums, monitors international market and reviews issues associated with accession to membership. The government takes steps with the aim of perfection of legislation, particularly laws and regulations on foreign trade relations. The country set up state commission on joining the World Trade Organization which is concerned in studying the procedures to join the WTO.

WTO membership opens wider opportunities for the formation of stable trade and investment environment, which by its turn gives a stimulus for the attraction of investments into national economy, strengthening of the country in international markets and development of foreign economic relations. Currently the organization has 162 members, more than 20 countries have observer status as well as some 60 international organizations including UNO, IMF, The World Bank.