Turkmenistan ready to sign agreement with EAG

Turkmenistan is ready to sign an agreement with the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG), an official Turkmen source said on Monday.

The document has been approved by the Turkmen President Gurbanguly Berdimuhammadov, who at a recent government meeting said that "intensifying cooperation with all world countries and authoritative international financial institutions is a key aspect of Turkmenistan’s foreign policy strategy".

He said work done in this sphere contributes to "realization of the comprehensive measures to increase the country’s economic power".

Turkmenistan joined the Eurasian Group on Combating Money Laundering and Financing Terrorism in 2007, becoming its full member last year. Prior to that, the country adopted the Law on Combating Money Laundering and Financing Terrorism.

The EAG was established in 2004 and includes such countries as Belarus, Kazakhstan, China, Kyrgyzstan, Russia, Tajikistan and Uzbekistan.

A delegation of the Financial Action Task Force (FATF) visits Ashgabat regularly.

Early this year an interdepartmental coordinating working committee was established under the Turkmen Finance Ministry to combat money laundering and the financing of terrorism in Turkmenistan.

Source: Trend