It can act as claimer or defendant at the court, at the High Commercial Court and the Arbitrage Court at the Chamber of Trade and Industry.
The state and its bodies do not take responsibility for obligations of the Chamber of Trade and Industry and the Chamber of Trade and Industry does not either take responsibility for obligations of the state and its bodies.
The Chamber of Trade and Industry does not take responsibility for obligations of members of the Chamber of Trade and Industry, its subordinate enterprises, organizations and members of the Chamber, its subordinate enterprises, organizations do not either take responsibility for obligations of the Chamber of Trade and Industry of Turkmenistan.
The Chamber of Trade and Industry has its own emblem which consists of the staff of Mercury in the centre of the globe, its left side is fringed with a half moon with five stars symbolizing union of five regions of Turkmenistan with its name as well as the seal with the image of the emblem and inscription in the state and Russian languages.
The reporting year of the Chamber of Trade and Industry is determined as the period from January 1 to December 31.
Place of location of the Chamber of Trade and Industry of Turkmenistan –Ashgabat city.
Goals, Objectives and Activity of the Chamber of Trade and Industry
The Chamber of Trade and Industry has been founded with a view to facilitate development of economy of Turkmenistan, its integration with the world economic system, establishment of modern industrial, financial, and trade infrastructures, creation of favourable conditions for business activity, establishment of relations in trade, economy, science and technology with foreign partners and conducts the following activities:
• Protects the interest of members of the Chamber of Trade and Industry connected with conduction of economic and foreign economic activities in and outside Turkmenistan;
• Facilitates development of production of competitive products, uses the opportunity for attraction of foreign technologies, investments, creation of modern enterprises and other forms of cooperation;
• Facilitates development of entrepreneurship activity taking into account the economic interests of separate sectors and regions, their instruction in modern methods of activity;
• Organizes interaction between members of the Chamber, their interaction with the state and its bodies as well as social partners;
• Confirms the certificate of origin of goods and signatures of legal persons located in Turkmenistan, draws other documents connected with export of goods and services, witnesses the force-majeure situations in line with conditions of foreign economic operations and international agreements of Turkmenistan;
• Facilitates representatives of business circles and missions in search of partners and establishment of business contacts as well as fulfils the same activity for entrepreneurs of Turkmenistan going to other countries;
• Ensures services necessary for fulfilment of commercial activity of foreign firms and organizations;
• Establishes and develops the relations with trade chambers of other countries , concludes with them agreements , organizes economic and trade missions and exchanges delegations of foreign business and social circles as well as with organizations and their representatives , enters the mixed chambers of trade, exchanges necessary information with its foreign partners;
• Conducts expertise of quality and completeness to the order of legal and physical persons of Turkmenistan and foreign firms as well as inspection of quantity of export and import goods and determination of price of products and property;
• Develops and confirms the norm and methodological documentation agreed with interested ministries, departments, and organizations or subordinate organizations;
• Fulfils orders for translation of economic, scientific , technical documents, references and informative materials as well as oral translations from foreign languages into the state language;
• Facilitates regulation of conflict situations arising between members of the Chamber and their partners;
• Creates the arbitrage court at the Chamber of Trade and Industry of Turkmenistan as a permanently functioning intermediate court for the sides in an established procedure;
• Fulfils other activities serving the goals and objective of the Chamber of Trade and Industry and regulations of international agreements of Turkmenistan which do not conflict with the current legislation.
• Organizes trips in agreement with Chambers of Trade and Industry of foreign countries, or with other business and social circles;
• Facilitates development of export of goods and services, extends practical aid to members of the Chamber of Trade and Industry in realization of operations in the foreign market and development of new forms of cooperation ;
• Provides information to members of the Chamber of Trade and Industry on world prices for goods and services provided, as well as commercial proposals of enterprises , organizations and firms;
• Fulfils preparation of related documents for registration in the Patent Office of Turkmenistan to the order of legal and physical persons of Turkmenistan and foreign countries;
• Issues journals, bulletins, digests, references, informative and commercial , educational and methodological materials and other print products on issues subject to the competence of the Chamber of Trade and Industry ;
• Keeps the register of member-enterprises and organizations of the Chamber of Trade and Industry as well as confirms their financial and economic state as a reliable partner for business and foreign economic activity;
• Gives consultations to members of the Chamber of Trade and Industry and other organizations as well as facilitates in search of partners , gives information on issues of foreign economic activity and legislation;
• Invites and receives foreign trade and economic delegations and separate representatives of foreign business circles, social organizations, sends its representatives to foreign countries, trade and economic delegations, facilitates tourism, organizes and holds meetings, symposiums, conferences, and congresses on issues of foreign economic activity, issues papers and lectures of development of national economy and foreign economic relations of Turkmenistan;
• Studies, generalizes and disseminates reference, informative materials of activity of trade chambers , unions, associations, business circles , international economic and other organizations;
• Organizes international and foreign fairs in Turkmenistan , ensures necessary preparation for organization of national exhibitions of Turkmenistan abroad;
Rights of the Chamber of Trade and Industry
The Chamber of Trade and Industry fulfils its activity in line with the law of Turkmenistan “of the Chamber of Trade and Industry “and by the present Statutes has the following rights:
• To build, obtain, transfer, take and given on lease any kind of movable and immovable properties both in Turkmenistan and aboard;
• To represent and protect the interests of members of the Chamber of Trade and Industry in state bodies;
• To conclude transactions including foreign economic, credit, bill, share and other securities and other transactions with legal and physical persons both in Turkmenistan and abroad;
• To establish enterprises, unions, organizations possessing rights of the legal entity in Turkmenistan and aboard, participate in establishment of regional, mixed chambers, joint enterprises, trade centers, associations of shareholders and other enterprises;
• To define independently methods of economic activity, confirm articles and structures, appoint and dismiss heads of subordinate organizations, establish and confirm the structure, staff list, and number of personnel of the Chamber of Trade and Industry;
• To open foreign currency and settlement accounts with the banks of Turkmenistan;
• To establish centralized funds (fund for development of production) and other funds;
• To fix the amount of salaries and material encouragement in its subordinate organizations and the personnel of the Chamber of Trade and Industry in compliance with the legislation of Turkmenistan;
• To manage its subordinate organizations, issue instructions within its competence;
• To open its branch offices and representative offices in places including abroad;
• To join unions, associations, federations and other corporations located in Turkmenistan and abroad interaction with which would help the Chamber of Trade and Industry to fulfil its activity defined by the present Statutes more fully and comprehensively;
• To issue legal documents within its competence which are recognized all over Turkmenistan;
• To exercise other powers related to the competence of the Chamber of Trade and Industry.
Property of the Chamber of Trade and Industry
The Chamber of Trade and Industry possesses a separate property which includes fixed and circulating funds, buildings, erections, equipment, currency and other funds, enterprises, shares, bonds, other securities and other properties necessary for fulfilment of its statutory functions.
The property at the account of the Chamber of Trade and Industry, its enterprises, and organizations, is the property of the Chamber of Trade and Industry and possesses the status of ownership envisaged in the legislation of Turkmenistan and is managed in compliance with the present Statutes.
Subordinate enterprises, unions, and organizations of the Chamber of Trade and Industry posses and manage their own property on the basis of full right for conduction of their economy in line with goals and objectives envisaged in their articles and regulations as well as agreements made between the Chamber of Trade and Industry and the above-mentioned enterprises, unions and organizations.
Membership fees and entrance dues, profits from revenues of economic activity of subordinate enterprises, unions and organizations and other incomes envisaged in compliance with the present Statutes, are sources of funds of the Chamber of Trade and Industry.
Funds of the Chamber of Trade and Industry are directed to support its activity and establishment of funds.
In case of leaving membership the Chamber of Trade and Industry, fees of members paid, are not returned and part of property of the Chamber of Trade and Industry is not subject to claim.
The property of the Chamber of Trade and Industry is protected by law.
Taxation of income of the Chamber of Trade and Industry is carried out in compliance with the current legislation of taxation.
Establishment of the Chamber of Trade and Industry Membership to the Chamber of Trade and Industry
The Chamber of Trade and Industry is established on the initiative of at least ten founders. Founders of the Chamber of Trade and Industry can be enterprises, unions, entrepreneurs and their incorporations irrespective of their form of ownership, institution and sphere of activity.
Initiators of establishment of the Chamber of Trade and Industry call the founding conference or general meeting where the Statutes is adopted and Board of the Chamber of Trade and Industry is formed.
Enterprises and organizations irrespective of their form of ownership and their organizational and legal form, separate entrepreneurs registered in an established procedure and carry our economic activity, participate in conduction of economic , scientific, technical and trade relations of Turkmenistan with other countries, are members of the Chamber of Trade and Industry. Members of the Chamber of Trade and Industry can be also associations and their unions consisting of entrepreneurs in certain sectors and regions.
The rates of entrance and annual membership fees for members of the Chamber of Trade and Industry are fixed by the Board of the Chamber of Trade and Industry in compliance with its Statutes.
Foreign legal and physical persons can also be members of the Chamber of Trade and Industry.
The Chamber of Trade and Industry registers the above-mentioned subjects which become members of the Chamber of Trade and Industry from the date of their inclusion in the register.