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LAW OF TURKMENISTAN

of February 28, 2015 No. 183-V

About Chamber of Commerce and Industry of Turkmenistan

This Law establishes legal and economic basis of formation of Chamber of Commerce and Industry of Turkmenistan, forms of business of its activities and determines measures of the state support.

Chapter I. General provisions

Article 1. Concept of Chamber of Commerce and Industry of Turkmenistan

1. Chamber of Commerce and Industry of Turkmenistan (further – Chamber of Commerce and Industry), being legal entity, represents the non-profit public organization combining on voluntary basis of the company, organization irrespective of patterns of ownership and the entrepreneurs performing the activities without formation of legal entity designed to support and protect their interests.

2. For accomplishment of authorized tasks the Chamber of Commerce and Industry can be engaged in business activity. The profit got from business activity cannot be distributed between members of Chamber of Commerce and Industry.

3. The Chamber of Commerce and Industry answers for the obligations the property belonging to it.

4. The Chamber of Commerce and Industry does not answer for obligations the members and the companies created by it, they also do not answer for obligations Chamber of Commerce and Industry.

5. The name "Turkmenistanyn sowda-senagat edarasy" has no right to use other companies and the organizations, and those from them which have this phrase in the name, are not subject to state registration, except for the companies and the organizations formed by Chamber of Commerce and Industry.

6. Chamber of Commerce and Industry, performing the authorized functions, is effective within the Constitution and the laws of Turkmenistan.

Article 2. Legislation on Chamber of Commerce and Industry

1. The legislation of Turkmenistan on Chamber of Commerce and Industry is based on the Constitution of Turkmenistan and consists of this Law and other regulatory legal acts of Turkmenistan.

2. If the international treaty of Turkmenistan establishes other rules than provided by this Law, then rules of the international treaty are applied.

Article 3. Purposes and tasks of Chamber of Commerce and Industry

1. The Chamber of Commerce and Industry is created for the purpose of assistance to further strengthening of economy of Turkmenistan, its deeper integration into world economic system, to enhancement of modern industrial, financial and trade infrastructure, creating favorable conditions for all types of business activity and the organization of interaction with state bodies, to every possible development trade and economic, investment and sci-tech cooperation of entrepreneurs of Turkmenistan with business community of foreign states.

2. The Chamber of Commerce and Industry of Turkmenistan carries out the following tasks:

1) gives help, represents and protects the interests of members of Chamber of Commerce and Industry on the questions connected with implementation of economic activity including outside Turkmenistan;

2) promotes development of business activity taking into account economic interests of separate industries, regions and the companies;

3) renders assistance to members of Chamber of Commerce and Industry and its partners in ensuring their participation in the held exhibitions, fairs, business forums and conferences;

4) will be organized by close cooperation between members of Chamber of Commerce and Industry, their interaction with the state and its bodies;

5) promotes educational development and trainings of entrepreneurs of Turkmenistan, will organize professional training and training of specialists for business activity and other types of training, including outside Turkmenistan, participates in development and implementation of the state and interstate programs in this area;

6) renders to entrepreneurs, their associations, the unions, associations information services, helps the organization of infrastructure of information servicing of entrepreneurship, issues magazines, bulletins, information advertizing registers and other printed materials;

7) promotes development of commodity export and services, gives practical help to the companies, the organizations and entrepreneurs of Turkmenistan in carrying out transactions in the foreign market and development of new forms trade and economic and sci-tech cooperation;

8) takes measures within the competence to non-admission and suppression of unfair competition and the partnership which is not based on business relations;

9) promotes settlement of the pre-judicial disputes arising between members of Chamber of Commerce and Industry, entrepreneurs and the companies of different patterns of ownership;

10) is provided by provision to the foreign companies in Turkmenistan of the services necessary for implementation of their business activity;

11) at the request of legal entities and physical persons of Turkmenistan and the foreign companies promotes preparation of the relevant documents for their registration in Turkmenistan;

12) carries out the expertizes connected with control of quality, quantity and completeness of goods, and also cost determination of products and property;

13) certifies certificates of origin of goods and services, signatures of the legal entities who are in Turkmenistan processes other documents connected with commodity export and services, witnesses circumstances of force majeure in accordance with the terms of the foreign trade transactions and international treaties of Turkmenistan, and also contracts and agreements signed by the foreign companies in the territory of Turkmenistan;

14) is conducted by the register of the companies and organizations of Turkmenistan which financial and economic situation testifies to their reliability as partners in business and foreign economic activity;

15) will organize the international and national exhibitions, fairs, conferences and business forums, provides preparation and holding exhibitions of goods of Turkmenistan abroad;

Establishes 16) and develops connection with chambers of commerce of foreign states, signs agreements on cooperation with them, will organize economic and trade delegations;

17) renders assistance to representatives of business community in search of partners and establishment of contacts, and also performs similar functions for the entrepreneurs of Turkmenistan leaving to other countries;

18) performs other functions answering the purpose and tasks of Chamber of Commerce and Industry and provisions of international treaties of Turkmenistan.

Article 4. Relations of Chamber of Commerce and Industry with the state

1. The state provides observance of the rights and legitimate interests of Chamber of Commerce and Industry, gives support in its activities, legislatively regulates provision of tax and other benefits and benefits by it.

2. Intervention of the state in activities of Chamber of Commerce and Industry, and Chamber of Commerce and Industry – in cases of the state, assignment on Chamber of Commerce and Industry of functions of state bodies, except the cases provided by this Law is not allowed.

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