Ashgabat, 12 October 2021: In the framework of the project “Strengthening the Trade Capacity of Turkmenistan” jointly implemented by the United Nations Development Programme (UNDP) and the Ministry of Trade and Foreign Economic Relations of Turkmenistan, an online seminar on improvement of practices of concluding international agreements on trade and economic cooperation on bilateral, regional, and multilateral basis, was held.

The event involved participation of international consultants from the British company "Crown Agents" Ms. Evgenia Pomerlyan and Mr. Vladimir Trofimchuk, who reviewed the practices of using the existing instruments for development of trade and economic cooperation of Turkmenistan and prepared recommendations on improvement of practices of concluding international agreements on trade and economic cooperation on bilateral, regional and multilateral basis.

The event gathered the representatives of the line ministries of Turkmenistan, including the Ministry of Trade and Foreign Economic Relations, Ministry of Foreign Affairs, Ministry of Finance and Economy, State Commodity and Raw Materials Exchange, Chamber of Commerce and Industry, and the Union of Industrialists and Entrepreneurs of Turkmenistan.

“The regional trade and economic agreements, whether they are bilateral or multilateral, will be key to expanding trade and economic cooperation of any country. Improving the practice of concluding international agreements on trade and economic cooperation on bilateral, regional and multilateral basis will liberalize trade and economic flows in the country, support integration into the world economic processes and increase the volume of export goods.” - said Mr. Akmyrat Danatarov, UNDP Programme Analyst for Governance, Economic Diversification, and Inclusive Growth outlining the significance of the event.

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A joint project between the UNDP and the Ministry of Trade and Foreign Economic Relations of Turkmenistan “Strengthening the Trade Capacity of Turkmenistan” was launched in 2019 and aims to contribute to strengthening and building trade capacity of Turkmenistan, expand competitive potential of country’s economy, and based on that engage new sources of economic growth and improvement of welfare of people.