World Trade Organization (WTO) General Council has granted the “Observer” status to the central Asian country Turkmenistan. After receiving the observer status from WTO, Turkmenistan has become the last former Soviet republic to establish formal ties with the trade body. Turkmenistan has become the 25th observer of the organization.
Turkmenistan will now be able to reap the benefits of acquisition of the status as it would help the country to develop its economy, promote multilateral cooperation, attract foreign investment and develop international trade relations.
Important takeaways for all competitive exams:
- Director-General of World Trade Organization: Roberto Azevedo.
- President of Turkmenistan: Gurbanguly Berdymukhamedov; Currency: Turkmen manat.