A three-day seminar on the development of the securities market was held for specialists from the Ministry of Finance and Economy of Turkmenistan and the Ashgabat Stock Exchange from January 20 to 24.

The seminar was organized within the framework of the joint project of the United Nations Development Programme (UNDP) and the Ministry of Finance and Economy of Turkmenistan “Support to Strengthening the Institutional and Regulatory Environment for the Development of Financial Markets”.

The key topics were “The essence of the securities market and its place in a market economy” and “International standards and best practices in the field of global architecture for regulating the securities market”.

Participants studied the practical aspects of the formation of the securities market and the development of its regulatory system, including in other countries of the world.

UNDP international and local experts also held meetings with representatives of the Ministry of Finance and Economy of Turkmenistan and the Ashgabat Stock Exchange to further develop the securities market of Turkmenistan by studying best practices and bringing them in line with international standards.

The events held marked the beginning of UNDP cooperation with national partners in the development of the securities market of Turkmenistan, including strengthening the institutional and regulatory capacity of the Ministry of Finance and Economy of Turkmenistan, improving legislation, developing a program for the development of the securities market and preparing for the establishment of a depository, according to a UNDP press release.