ASHGABAT, Turkmenistan, October 30. The International Trade Center (ITC) and EU have signed an agreement worth six million euros aimed at supporting the government of Turkmenistan in its accession to the World Trade Organization (WTO) and becoming a member of the multilateral trading system, Trend reports.
According to the EU Delegation to Turkmenistan, the agreement was signed by Deputy Director General for International Partnerships, EC Myriam Ferran, and Executive Director of ITC Pamela Coke-Hamilton.
The signing ceremony was held in the presence of the Minister of Finance and Economy of Turkmenistan, Serdar Jorayev, who stressed the cooperation and support of the Turkmen government in this undertaking.
Furthermore, this funding is part of a larger allocation of 11 million euros for the period from 2021 through 2024.
The EU-funded project aims to promote the economic development of Turkmenistan and increase the competitiveness of small and medium-sized enterprises.
Meanwhile, the main goal of the project is to assist Turkmenistan in implementing trade policies, regulations, and practices in accordance with international standards and requirements. Thus, Turkmenistan seeks to improve its integration into the world trading system, increase trade efficiency, and attract foreign investment.
