Capital Markets Board of Turkey (CMB) and Turkmenistan Ministry of Finance, have signed a Memorandum of Understanding (MoU) in order to form a basis for cooperation   regarding the development of capital markets in Turkmenistan. The MoU has been signed by CMB Chairman Mr. Vahdettin ERTAŞ and Turkmenistan Minister of Finance Mr. Dovletgeldi SADYKOV, during the official visit of President Abdullah GÜL to Turkmenistan on 29-31 May 2013.

Within the context of this cooperation, it is planned to provide technical support and conduct training programs for the establishment of capital markets and stock exchanges in Turkmenistan. This MoU will support the establishment of a capital market and a stock exchange in Turkmenistan, contribute to the dialog and cooperation opportunities, and be an important step for the goal of setting up Istanbul as a regional financial centre initially and one of the world top ten thereafter, until 2023. 

We believe that this MoU will contribute to CMB's international collaboration efforts. This cooperation paper is the 32nd of the bilateral MoU's of the CMB.