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Turkmenistan and WTO discuss key issues of cooperation in Geneva

06 July 2018 [14:36] - TODAY.AZ

By  Trend

The delegation headed by the Deputy Minister of Foreign Affairs of Turkmenistan Serdar Berdimuhamedov has paid a working visit to Geneva (Switzerland), the Turkmen Foreign Ministry said in a statement.

Meetings were held with the Director General of the World Trade Organization (WTO) Robert Azevedo and also with the Executive Secretary of the UN Economic Commission for Europe (UNECE) Olga Algayerova, the Secretary-General of the UN Conference on Trade and Development (UNCTAD) Mukhisa Kituyi, and with the Director General of the World Intellectual Property Organization (WIPO) Francis Gurry.

The issues in such areas as energy, transport, investment, intellectual property and environment, including Turkmenistan's membership in international organizations were discussed during the negotiations.

Turkmenistan has been studying the possibility of joining the WTO since 2013. A government commission was established for this purpose. It is well known that, the most favored nation treatment will be applied by all members of this international organization and generally accepted economic benefits will be provided to any state after its admission to the WTO.

Accession to the WTO will firstly activate the development of just the areas in which Turkmenistan is most competitive in the world markets. In particular, these are hydrocarbon resources, which are now estimated at 71.21 billion tons of oil equivalent. Turkmenistan's energy strategy is not limited to oil and gas exports. The construction of new gas and oil processing production facilities is the priority component of the energy strategy.

The revenues generated by the fuel and energy sector are directed to the implementation of priority national projects, primarily related to the diversification of the economy and the development of the social sphere.


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