OSCE seminar discusses creation and development of free economic zones in Turkmenistan

The benefits and challenges of the functioning of free economic zones (FEZ) were addressed at an OSCE-organized seminar that took place on 10 and 11 November 2022 in Ashgabat.

The OSCE Centre in Ashgabat organized the two-day event to support the host country’s efforts aimed at enhancing an investment-friendly environment and foreign economic activity and implementing relevant international commitments.

A national expert presented the concept, principles and classification of free economic zones and highlighted preconditions for FEZ development in Turkmenistan. An international expert from the United Kingdom shared the best practices of the OSCE participating States in the development of the national concept of free economic zones and elaborated on customs controls in FEZ and the evaluation of FEZ effectiveness.

“The  free economic zones represents an efficient model of administrative and economic management aimed at fostering jobs creation, generating exports, and attracting foreign investment, said Ivana Markovic-Boskovic, Economic and Environmental Officer of the OSCE Centre in Ashgabat.

“Today`s seminar is a part of the Centre`s continued and long-term support to Turkmenistan in promoting regional economic connectivity and strengthening the legal and institutional frameworks conducive to a positive investment climate and business development,” added Markovic Boskovic.

The seminar brought together representatives of Turkmenistan’s Ministry of Justice, Ministry of Trade and Foreign Economic Relations, Ministry of Finance and Economy and the Central Bank, as well as the State Customs Service, Union of Industrialists and Entrepreneurs and other relevant institutions.