Georgia and Turkmenistan discuss on legal framework for business cooperation

According to the Turkmen MFA, Turkmenistan and Georgia discussed the legal framework for business and economic cooperation.
Turkmen Ambassador to Georgia Dovletmyrat Seyitmammedov and Georgian Deputy Minister of Economy and Sustainable Development Tamar Ioseliani negotiated during a meeting in Tbilisi. Also, Head of the Department of Trade Development and International Economic Relations at the Ministry of Economy and Sustainable Development, Givi Zedelashvili, and Director General of Georgian Railway, Lasha Abashidze attended the meeting.
According to the both sides, further improvement of the bilateral treaty and legal base are an important factor for the sustainable development of trade and economic ties. Also, it is important to create more favorable conditions for joint economic initiatives between Turkmenistan and Georgia.
A stable legal framework consisting of bilateral agreements and multilateral trade arrangements is the basis of trade and economic relations between Turkmenistan and Georgia. The two countries continue to apply the provisions of the 1994 CIS Free Trade Area Agreement in their bilateral trade, even though Georgia has withdrawn from the Commonwealth of Independent States (CIS) in 2009. This way, preferential tariff treatment and facilitating transit operations are ensured.
In general, the Intergovernmental Turkmen-Georgian Commission on Economic Cooperation coordinates bilateral economic cooperation. It serves as the principal mechanism for monitoring the implementation of existing agreements and identifying new areas of cooperation. Moreover, trade, transport, logistics, energy, investment, and other sectors of mutual interest are covered by the Commission’s agenda.

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