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ADB President commits to development partnership with Turkmenistan

16 November 2018 12:04 (UTC+04:00)
ADB President commits to development partnership with Turkmenistan

By Abdul Kerimkhanov

President of Asian Development Bank (ADB) Takehiko Nako confirmed ADB’s intention to expand constructive cooperation with Turkmenistan.

President of Turkmenistan Gurbanguly Berdimuhamedov received President of the Asian Development Bank Takehiko Nakao on November 14.

At the meeting was noted that Turkmenistan, which has a huge economic and resource potential, demonstrates impressive achievements, having earned the reputation of a reliable and responsible partner on the world stage.

President Gurbanguly Berdimuhamedov noted with satisfaction the long-term and effective nature of the partnership with the Asian Development Bank, with which we have accumulated experience of successful joint work, stressing that one of the key vectors of the foreign policy course of our country is the strengthening of fruitful cooperation with reputable international organizations, including the largest financial structures.

Then the head of state and his guest exchanged views on current areas of bilateral cooperation, discussed the possibilities for its further revitalization, taking into account modern realities and plans for the future. As Berdimuhamedov noted, Turkmenistan has been a member of the ADB since 2000. Among the priority areas of productive investment cooperation established during this period are the fuel and energy sector and the diversification of export routes for energy supplies, the formation of transit and transport infrastructure, and the promotion of small and medium-sized businesses.

Broad prospects for effective addition of efforts are due to the implementation of infrastructure projects of national and global importance. Project of construction of the gas pipeline Turkmenistan-Afghanistan-Pakistan-India (TAPI) initiated by the Turkmen leader is among them. This transnational energy bridge is of great importance in the context of the peaceful revival of Afghanistan, the restoration of its socio-economic infrastructure, the solution of such pressing issues as the creation of new jobs.

Along with this, the TAPI gas pipeline, in addition to its functional purpose, is designed to serve to strengthen peace and stability in the region, its ongoing progress. As one of the main partners in the TAPI project, the Asian Development Bank is actively involved in its implementation.

The importance of the signed Agreement on the construction of a power line for the route Turkmenistan-Afghanistan-Pakistan (TAP) was also noted. A line of fiber-optic communication will also run along this line, which, along with the development of the information and communication network between the three countries, will contribute to strengthening the integration processes in this part of the Asian region. Work is also underway to lay the Akin-Mazar-i-Sharif railway.

With regard to investment cooperation in the field of transport, here as a concrete example of partnership with ADB is the implementation of a large-scale project for the construction of the Kazakhstan-Turkmenistan-Iran railway. In this context, during the meeting, the possibilities of creating international transit and transport corridors were considered, in particular, along with the route Afghanistan-Turkmenistan-Azerbaijan-Georgia-Turkey and further to the European direction.

The increased potential for cooperation in the Caspian was noted, where, after signing the Convention on the Legal Status of the Caspian Sea, there are prospects for future joint projects, including pipeline construction and the development of marine resources.

At the end of the meeting, the head of Turkmenistan and the head of ADB expressed confidence that bilateral cooperation will successfully develop, and new proposals to expand traditional ties will stimulate international business contacts, attract new investments for high-tech projects that meet the goals of well-being of the entire Asian region.

The Asian Development Bank was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world.

ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development.

The Bank is composed of 67 members, 48 of which are from the Asia and Pacific region.

In 2017, ADB operations totaled $32.2 billion, including $11.9 billion in cofinancing.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94

Follow us on Twitter @AzerNewsAz

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