BAKU, Azerbaijan, June 27: The Organisation for Economic Co-operation and Development (OECD) is working closely with Turkmenistan to implement trade facilitation reforms within the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor, a source within the OECD revealed.
The OECD has been collaborating with Turkmenistan to enhance trade facilitation measures as part of efforts to boost regional connectivity and integrate global value chains, the source stated.
Furthermore, as part of the Eurasia Competitiveness Programme, the OECD has conducted capacity-building workshops focusing on key private-sector development priorities in Turkmenistan, including the establishment of an investment and export promotion agency.
During a visit to Ashgabat in November 2023, the OECD discussed the outcomes of the Improving the Legal Environment for Business in Central Asia project with government and private sector representatives. Key recommendations included the need for better implementation of business-related laws, digitalization of business registration processes, and simplification of the operating environment for small and medium enterprises (SMEs).
The OECD, founded in 1961, aims to advance global economic and social well-being by facilitating collaboration among governments, sharing best practices, and addressing common challenges.
By focusing on areas such as economic growth, trade, education, and innovation, the OECD supports sustainable economic development and prosperity worldwide through data analysis and policy recommendations.