ASHGABAT, Turkmenistan, May 25. Turkmenistan
has announced the drafting of the “Memorandum on Foreign Trade
Rules of Turkmenistan” within the framework of cooperation with the
World Trade Organization (WTO), Trend reports via the press service of the Turkmen
government.
The initiative was presented during a Cabinet meeting chaired by
President Serdar Berdimuhamedov, following a report by Foreign
Minister Rashid Meredov on the progress of WTO-related
cooperation.
According to the report, the memorandum is aimed at formalizing
the country’s foreign trade rules and supporting Turkmenistan’s
ongoing integration into the multilateral trading system.
To note, The World Trade Organization (WTO) establishes a
unified set of mandatory rules for international trade, which
include the principle of non-discrimination (MFN), transparency in
trade policy, restrictions on non-tariff barriers, and commitments
to reduce tariffs and subsidies. Key elements also include the
prohibition of certain investment restrictions (TRIMs), such as
local content requirements or mandatory export-import balancing, as
well as the existence of a comprehensive trade dispute settlement
mechanism, whose rulings are legally binding on member
countries.
Against this backdrop, Turkmenistan’s current trade regime is
characterized by a higher degree of administrative regulation and
limited institutional integration into the multilateral rules-based
system. The country is in the process of acceding to the WTO: an
accession working group was established in 2022, but the
negotiation process is in its early stages and requires the
preparation of key documents, including a memorandum on the foreign
trade regime. Unlike current WTO members, Turkmenistan is not yet
committed to tariff harmonization, the systematic reduction of
trade barriers, and full transparency of trade policy within the
framework of multilateral agreements.
