On April 2, 2022, during the 17th meeting of the Mejlis of the Milli Gengesh of Turkmenistan, the Parliament unanimously adopted resolutions on the accession of Turkmenistan to the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958 (New York Convention), as well as to the United Nations Convention on Contracts for the International Sale of Goods of 1980 (Vienna Convention).
Turkmenistan’s participation in international conventions and multilateral documents in the trade, economic and investment fields, improvement of the national legal framework, harmonization of legislation in this regard is one of the priorities of Turkmenistan’s foreign policy.
On March 15, 2022, Turkmenistan was elected a member of the UN Commission on International Trade Law for the period 2022-2028 (from June 27, 2022).
Cooperation with the World Trade Organization, the International Monetary Fund, the World Bank, international and regional financial institutions has significantly intensified.
In particular, in July 2020, by decision of the General Council of the World Trade Organization, Turkmenistan received observer status in the WTO.
And on February 23 this year, the members of the General Council unanimously approved granting Turkmenistan the status of an acceding country (active observer).