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.