Turkmenistan WTO accession issues

Abstract

The aim and main objectives of this article are determined by the urgency of issue in intensifying country’s integration efforts into the global economy in the context of Turkmenistan’s accession to the WTO. The aim of this article is to develop proposals that may be used in negotiations by the country’s delegation on terms of Turkmenistan’s accession to the global trade organization. The article proves the necessity of taking into account the specificity of transition economies when evaluating and discussing their concessions and obligations they will accept upon WTO accession. The most important elements and key issues in negotiating to be considered by the delegation of Turkmenistan are identified. The paper demonstrates that building or reforming the institutional framework and mechanisms to implement the WTO Agreements will require more public and private investments. At the same time, the long-term strategic benefits and advantages of WTO membership will outweigh the adaptation costs. The latter will be short term if well-designed, balanced, gradual and good economic policy is developed. The article emphasizes the critical importance of conducting a well-developed and well-designed social and economic policy that will be the basis and factor contributing to reducing corruption risks and overcoming corruption in public sector. This paper concludes by providing recommendations. It shows that the country should have the benefit of an extended transition period under which the national trade rules and regulatory regimes must be totally reconsidered to reflect the WTO rules and regulations. Also, the country should be granted: firstly, certain exceptions to WTO rules and agreements; secondly, special and differential treatment; thirdly, special waivers of the application of “WTO-plus” obligations and “WTO-minus” provisions.

Keywords

• wto
• turkmenistan
• developing countries
• transition economies