12 October, 2018

ADB, Turkmenistan strengthening partnership in energy, transport, trade

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By Huseyn Hasanov – Trend:

A meeting with the delegation of the Asian Development Bank (ADB), headed by Director General for Central and West Asia Department Werner Liepach, was held at the Turkmen Foreign Ministry.

The sides considered the possibility of expanding relations in the fields of energy, industry, transport and trade, the Turkmen Foreign Ministry said in a message.

According to the message, the interest was stressed in strengthening ties in the fields of industry and the banking system.

During the exchange of views on the development of cooperation within the Central Asia Regional Economic Cooperation (CAREC) Program, the ADB delegation expressed readiness to coordinate joint efforts within projects and programs being implemented in Turkmenistan.

The sides also discussed the issues of holding the 17th Ministerial Conference on CAREC in November 2018 in Ashgabat as part of the chairmanship of Turkmenistan in the CAREC Program in 2018.

Turkmenistan joined ADB in 2000 and the bank’s assistance focused on modernizing of the transport sector and increasing the country's share in regional trade.

Earlier, it was reported that according to the business plan of the country operations, calculated by ADB for 2018-2019, the loans worth $950 million are planned to be allocated to Turkmenistan.

The partnership strategy supports the goal of the Turkmen government to diversify the economy, its infrastructure and develop the private sector, the bank said.

Turkmenistan ranks fourth in terms of natural gas reserves in the world according to the BP report and at this stage, the country exports gas to China and Iran.

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