EU and Turkmenistan talk energy and trade

Thu Jun 26, 2008 12:51pm BST
 
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ASHGABAT, June 26 (Reuters) - European Union officials discussed energy and trade with Turkmenistan on Thursday and advised the Central Asian state to consider joining the World Trade Organisation (WTO).

The reclusive ex-Soviet state has been emerging from global isolation since President Kurbanguly Berdymukhamedov came to power in late 2006, promising to reform Turkmenistan's Soviet-style economy and restore civil freedoms.

Victor Maldonado, a European Commission officer in charge of Central Asia, said Europe was interested in energy supplies from Turkmenistan, the region's top gas producer.

"We think we would be good customers... because we are ready to pay a good price," Maldonado said through an interpreter.

Turkmenistan exports about 50 billion cubic metres of gas annually through Russia's Gazprom (GAZP.MM) and plans to increase exports significantly in the future.

The West is keen for the country to join the Nabucco pipeline project that would bypass Russia, while Russia has offered to build a new link over its territory.

Maldonado also said Turkmenistan could benefit from joining the WTO. "We would like to raise the issue of Turkmenistan's membership in the WTO," he said but did not elaborate.

"This would make our businessmen feel more comfortable."

Kyrgyzstan is currently the only Central Asian state accepted into the WTO which provides protection for trade and investment between its member countries and acts as a global arbiter in trade-related disputes.  Continued...

 

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