Uzbekistan intends to join the WTO, Turkmenistan is studying this issue
February 08, 2018 | 17:56 |306
Uzbekistan intends to join the World Trade Organization as soon as possible. This task is set in the special state program "Year of active entrepreneurship, innovative ideas and technologies". According to experts, Uzbekistan's accession to the WTO will expand bilateral trade between Uzbekistan and other members of the organization, as well as increase foreign investment in the country's economy. In this regard, paraphrasing a well-known saying, one can say that joining WTO is not as easy, as eating a piece of cake. Countries wishing to join this organization mist bring their legislation in accordance with the norms of the WTO. For some states it takes years if not decades, to do this, and others manage in a much shorter period. It is considered that the country's accession to the WTO increases its authority in the international trading market, gives certain guarantees to investors, testifies to the compliance of domestic legislation with world standards. At the same time, experts warn that the effect of joining the WTO is not unambiguous. As a rule, states join the WTO in order to enter new markets with their goods. But the organization's tasks include not only the liberalization of exports of member countries, but also imports. And one of the conditions for WTO membership is the "opening" of borders by reducing customs duties, which can increase the flow of foreign goods, often at the expense of local producers.Nury Amanov
Turkmenistan is also considering the possibility of joining the World Trade Organization and is currently studying this issue comprehensively.
In January 2011, the then head of the European Commission, Jose Manuel Barroso, during his visit to Ashgabat, offered Turkmenistan to join the WTO.
Now Ashgabat is carrying out a phased improvement of the legislation in the field of foreign trade, including, in the light of the WTO requirements. Also, Turkmenistan is discussing the issue of joining the WTO with representatives of international financial institutions, and Turkmen experts are analyzing the data of the international commodity market.
The main goal is to gain new points of economic growth from the WTO accession and preserve the former strengths of the country's economy.
According to statistical data, currently WTO regulates over 90% of world trade.
From the post-Soviet countries, the WTO has yet to be joined by Azerbaijan, Belarus, Turkmenistan and Uzbekistan.
