Regulation on Agency for Protection Against Economic Risks Approved

Regulation on Agency for Protection Against Economic Risks Approved

The President of Turkmenistan signed a Decree entrusting the Agency for Protection from Economic Risks under the Ministry of Finance and Economy with conducting analytical work within the context of export-import commodity operations in the foreign economic activity of Turkmenistan; conducting a market analysis of goods, state of affairs and services on the world market, as well as developing proposals for improving the foreign trade.

The document also approves the Agency’s regulations and its structure.

The State Committee on Statistics, the State Customs Service and the State Commodity and Raw Materials Exchange are required to submit monthly informational reports on the export and import of goods to the Agency.

The Agency was given the authority to collect, within its jurisdiction, relevant information about individuals and legal entities engaged in foreign economic activity.

With the changes arising from the Decree, the Agency for Protection against Economic Risks under the Ministry of Finance and Economy, in collaboration with the Ministry of Justice, is ordered to prepare and submit to the Cabinet of Ministers proposals on amending legislation of Turkmenistan within a month.