OREANDA-NEWS. September 5, 2011. The ceremony of opening the Intermediate Meeting of the Governors to the International Monetary Fund and the World Bank of the Swiss Mission, which includes our country and Azerbaijan, Kazakhstan, Kyrgyzstan, Poland, Serbia, Tajikistan and Uzbekistan, took place in the conference hall of the Arzuw Hotel in the Avaza national tourism zone.

The fact that Turkmenistan is the first Central Asian country to host this representative forum attached great importance to the meeting. This event is vivid evidence for the profound respect to the Turkmen state, recognition of the open door policy aimed at promoting international cooperation pursued by President Gurbanguly Berdimuhamedov and the growing interest of foreign partners in our country that had the tremendous economic potential.

Numerous guests including Eveline Widmer-Schlumpf, Vice President, Finance Minister of the Swiss Confederation, heads and representatives of the International Monetary Fund, the World Bank, the European Bank for Reconstruction and Development, the Swiss Federal Department of Finance, the Swiss State Secretary of Economic Affairs (SECO), national banks and the Ministries of Finance and Economy of countries of the abovementioned mission. The forum brought together the cabinet ministers and heads of the banking, financial and economic institutions of Turkmenistan.

In his welcoming address to the forum participants President Gurbanguly Berdimuhamedov emphasized that the International Monetary Fund and the World Bank had a special place among the international financial organizations that provide assistance to developing countries. Turkmenistan highly evaluated the efforts of these authoritative structures aimed at promoting mutually beneficial cooperation in various spheres and intended strengthen constructive partnership on a long-term basis.

It was noted that the main aim of this meeting was to enhance fruitful cooperation with all countries all over the world and leading international structures that wad a major vector of the state policy pursued by President Gurbanguly Berdimuhamedov to build up relations with foreign partners including international financial and economic institutions based on mutual respect, benefit and healthy pragmatism.

The IMF and the World Bank as a strategic partner of Turkmenistan have been providing technical assistance and support in optimizing the monetary, credit and currency policy, modernizing the national regulatory framework in line with international standards and training specialists for the financial and tax systems, the spheres of statistics and economic management and developing transport infrastructure.

On behalf of all meeting participants, Eveline Widmer-Schlumpf, Vice President, Finance Minister of the Swiss Confederation expressed deep gratitude to the President of Turkmenistan for providing support and assistance in the organization of the forum. Underlining that the Swiss Department serves as a major link connecting European and Asian countries, the honorary guest focused on the importance of this meeting that provided a powerful incentive to intensify international cooperation.

The guest stated that abundant natural resources and the favourable geographical location of Turkmenistan as well as the open door policy pursued under the leadership of President Gurbanguly Berdimuhamedov allow forecasting with confidence the bright future of Turkmenistan. Mrs. Eveline Widmer-Schlumpf said that the creation of the Avaza national tourism zone on the Caspian seashore was vivid evidence for the success of the progressive reforms and large-scale changes taking place in the country.

The seminar on macroeconomic stability and development of the banking sector was conducted in the framework of the forum. The experts of the leading international organizations made the presentations on the major aims of the macroeconomic policy and development of the financial and private sectors in European and Central Asian countries.

It was noted that the key goals of the International Monetary Fund and the World Bank was to strengthen international cooperation in the monetary and financial spheres, guarantee financial stability, promote international trade, assist in increasing the employment rate and sustainable economic growth as well as enhance social welfare of the people. In conditions of the global economic crisis the importance of strengthening mutually beneficial partnership between all countries of the world had increased and, an important role in this process was assigned to the world's leading financial structures.

Dwelling upon key aspects of the ongoing large-scale reforms in Turkmenistan, the forum participants emphasized that the ultimate goals of these reforms was to improve the people's welfare through fully and comprehensively implementing the tremendous economic potential of the country, intensifying fruitful cooperation, enhancing and expanding trade relations with different countries in the world that in general met the main goals and objectives of the international organisations, including the IMF and World Bank.

The economic development strategy of Turkmenistan initiated by President Gurbanguly Berdimuhamedov is based on diversification of the national economy, adoption of advanced management technologies and latest methods all sectors of the national economy, smooth transition to market relations and comprehensive support for entrepreneurship. The establishment of the Stabilization Fund, the unification of the national currency rate, free conversion of foreign currency, denomination and introduction of new Turkmenistan manat and other innovations adopted in the financial and banking spheres contributed significantly to strengthening the financial positions of our country.

All abovementioned measures taken in the country under the leadership of President Gurbanguly Berdimuhamedov yield results today. Vivid evidence for this is the high macroeconomic indicators, steady GDP growth, steady financial position of businesses and an increase in income of people that is provided through promoting the progressive investment policy. According to the evaluations made by experts of the International Monetary Fund, the World Bank and other leading financial structures based on the systematic analysis of major macroeconomic statistical indicators, Turkmenistan continues developing steadily, and sustainable progress is expected in the future.

The presentation of the Avaza national tourism zone arranged in the framework of the representative forum aroused keen interest of foreign guests.