Turkmenistan has ‘window of opportunity’ says World Bank chief


Hans Timmer World BankThe fall in energy prices and the depreciation of the manat has opened a window of opportunity for Turkmenistan to become more internationally competitive, the World Bank’s Chief Economist for Europe and Central Asia Hans Timmer told  a high-level conference hosted by the Turkmen government in Ashgabat earlier this week, whom Timmer urged to take steps to integrate its financial infrastructure into the world’s multilateral trading system.
The Increasing Competitiveness conference was attended by representatives from the IFC, the IMF, the EBRD the ADB and USAID as well as a raft of senior government representatives and was part of the World Bank Group’s planned engagement with Turkmenistan for the next two years.
The two-day event included sessions on the role of public policy in enhancing skills and fostering diversification in the SME and agribusiness sectors diversified Small and Medium Enterprises growth, improving diversification and competitiveness of the agribusiness sectors. It also explored Turkmenistan’s export promotion strategy, the level of competitiveness in the non-oil and gas sector, and Ashgabat’s FDI priorities.

Source: AKIpress