Turkmenistan's International Trade Cooperation is Flourishing
The development of international economic relations, including political and cultural relations, has facilitated the expansion of international law. At the same time, a number of international law institutes have been established, which are used in specific areas of international relations. The development of international trade has facilitated the conclusion of numerous trade agreements and agreements between the states.
The current state of the world economy is characterized by the rapid development of international trade, which is the main system that unites states and peoples. The deepening of the globalization phenomenon over the past few decades has led to the expansion of international trade and economic relations, the annual increase in the number of its participants, and, as a result, the deepening of these relations.
The United Nations Commission on International Trade Law (UNCITRAL), which aims to unite peoples and bring states closer together, aims to reduce and eliminate those barriers in 1966, based on these challenges of the time. It is headquartered in Vienna, Austria, and is currently the main legal body of the United Nations.
The UN General Assembly has recognized that the creation of a commission is one of the resolving feature to the trade flow of conflicts arising from the application of the laws of various states in international trade. For this reason, the Commission has been seen as a tool that the United Nations can play a more active role in reducing or removing barriers to international trade. The Commission consists of sixty member states elected by the General Assembly, and its membership structure provides representation to various geographical regions and major economic and legal systems of the world. The members of the commission are elected for six years, and half of the members expire every three years.
At the 76th session of the UN General Assembly, Turkmenistan was elected a member of the United Nations Commission on International Trade Law (UNCITRAL) for the period 2022-2028. The election of our country to this commission is an important event. This important event coincides with the forthcoming meeting of the General Assembly of the World Trade Organization (WTO), which coincides with the adoption of Turkmenistan's application for accession to the WTO by the member states unanimously approval and granting Turkmenistan the status of a WTO accession country.
As a result of the development of market relations, the intensification of competition in the international trade system has led to the emergence of common issues that need to be resolved together. The need to coordinate such a situation in international trade and to reach an agreement between the states on these issues has made the issue of legal regulation of international trade an important issue in strengthening peace, security and sustainable development in the world.
The election of Independent, Permanently Neutral Turkmenistan as a member of the aforementioned UN Commission is a high assessment of the decent foreign policy pursued in our country, and the direct participation in the co-ordination of different countries to make joint decisions on the legal regulation of international trade.
Turkmenistan's views and proposals to jointly address global development issues not only contribute to the priorities of our state, but also contribute to strengthening peace, security and stability for the benefit of the world community.
Gülsenem HOMMADOVA,
Lecturer of the International Law and
Comparative
Law Department, Institute
of International Relations,
Ministry
of Foreign Affairs of Turkmenistan.