An online seminar on improving the practice of concluding international agreements on trade and economic cooperation at the bilateral, regional and multilateral levels was held in Ashgabat as part of the Strengthening the Trade Potential of Turkmenistan project of the United Nations Development Program (UNDP) and the Ministry of Trade and Foreign Economic Relations of Turkmenistan.

The event was facilitated by international consultants from the British company Crown Agents Evgenia Pomerlyan and Vladimir Trofimchuk, who reviewed the practice of using existing instruments for the development of trade and economic cooperation of Turkmenistan and prepared recommendations to improve the practice of concluding international agreements on trade and economic cooperation at bilateral, regional and multilateral level in Turkmenistan, according to a UNDP press release.

The seminar was attended by representatives of the sectoral ministries of Turkmenistan, including the Ministry of Trade and Foreign Economic Relations, the Ministry of Foreign Affairs, the Ministry of Finance and Economy, the State Commodity Exchange, the Chamber of Commerce and Industry and the Union of Industrialists and Entrepreneurs of Turkmenistan.

Akmurat Danatarov, UNDP Program Analyst on Governance, Economic Diversification and Inclusive Growth, noted:

“Regional trade and economic agreements, whether bilateral or multilateral, are the key to expanding trade and economic cooperation of any country. Improving the practice of concluding international agreements in trade and economic cooperation on a bilateral, regional and multilateral basis will liberalize trade and economic flows in the country, integrate into world economic processes and increase the volume of export goods. "

Recall that the joint project "Strengthening the Trade Potential of Turkmenistan" was launched in 2019 and is aimed at strengthening and building up the trade potential and expanding the competitive capabilities of the country's economy to use new sources of economic growth and improve the well-being of the people.