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Switzerland, Turkmenistan Sign DTA

by Ulrika Lomas, Tax-News.com, Brussels

12 October 2012


Switzerland and Turkmenistan have recently held talks in Bern, with the discussions focussing on plans to intensify bilateral economic relations between the two countries, and culminating in the signing of a double taxation agreement (DTA).

Aside from the DTA, other agreements were signed following the discussions, namely a Memorandum of Understanding between the two foreign ministries, a Memorandum of Understanding between the Geneva Centre for Security Policy and the Institute of International Relations of the Foreign Ministry of Turkmenistan and finally a Memorandum of Understanding between the Swiss and Turkmenistan chambers of commerce.

According to the Swiss Federal Department of Finance (FDF), Switzerland and Turkmenistan have gradually strengthened and deepened their relations in recent years.

Commenting on the latest visit, the FDF explains that the main agenda items were bilateral relations and cooperation in multilateral bodies. The FDF notes here that Turkmenistan is a member of Switzerland's constituency, or voting group, in the Bretton-Woods Institutions (the International Monetary Fund and the World Bank), in the European Bank for Reconstruction and Development and the Global Environment Facility.

TAGS: Turkmenistan | Finance | tax | double tax agreement (DTA) | commerce | agreements | Switzerland | construction

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