• KGS/USD = 0.01185 0%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09437 0.64%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01185 0%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09437 0.64%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01185 0%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09437 0.64%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01185 0%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09437 0.64%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01185 0%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09437 0.64%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01185 0%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09437 0.64%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01185 0%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09437 0.64%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01185 0%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09437 0.64%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
13 September 2024

Viewing results 85 - 90 of 106

US Policymakers and Central Asian Business Leaders Gather in Almaty for the CIPE B5+1 Forum

Cooperation and trade with Central Asia still holds much unrealized potential. The region is developing fast and offers opportunities for companies and agencies, both international and local. As the global geopolitical landscape changes and supply chains are disrupted, the importance of Central Asia as a business and transit hub, through initiatives such as the Trans-Caspian Corridor, is growing.  There are therefore great incentives for the five countries of the region – Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan and Turkmenistan – to find ways to function as a single integrated market, in order to capitalize on opportunities for foreign and local companies, and attract more international investment and business.  For this reason the Center for International Private Enterprise (CIPE) is inviting policymakers from Central Asia, the United States and other countries to its B5+1 Forum this week. On 14 and 15 March in Kazakhstan’s business capital of Almaty, leading minds from the public sector will discuss Central Asia’s economic integration, international trade and investment, alongside dozens of high-profile private companies.  An event on 14 March entitled “Looking within Central Asia” will introduce the objectives and expected outcomes of the B5+1 format. Presentations by representatives of Kazakhstan’s Ministry of National Economy, the Caspian Policy Center, the US Department of State and Kyrgyzstan’s Ministry of Economy and Commerce will give business-focused perspectives on improving economic integration and the investment climate.  The discussion on 15 March will center on the theme of “Central Asia’s place in the world economy”. Talks from representatives of the US-Kazakhstan Business Council, the American-Uzbekistan Chamber of Commerce and the European Bank for Reconstruction and Development (EBRD) will give an international perspective on promoting trade and investment flows in Central Asia. The B5+1 Forum forms part of CIPE’s program “Improving the Business Environment in Central Asia” (IBECA). CIPE themselves are affiliated to the US Chamber of Commerce – the catalyst behind the B7 and B20 platforms – and receive funding from the US Department of State.  The establishment of B5+1 is closely aligned with commitments outlined in a document called the New York Declaration to strengthen the republics' economic relations, and improve the business environment for regional economic integration and investments. The upcoming Forum aims to deliver on two key commitments in the declaration.   The Times of Central Asia will be in attendance at the B5+1 Forum on 14-15 March, and will be publishing insight and analysis from the event.

Turkmenistan and Afghanistan Discuss Collaborative Projects

On March 4th, a large Afghan delegation led by Nooruddin Azizi, Minister of Industry and Trade of Afghanistan, participated in a Turkmen-Afghan business forum and exhibition of Afghan goods in Ashgabat. Issues discussed included Turkmen-Afghan partnerships in trade, industry, agriculture, transport, communications, and electricity supply. Also on the agenda were oil and gas which alongside textiles, comprise Turkmenistan’s main exports to Afghanistan. As reported by the Turkmen Foreign Ministry, special attention was paid to the construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline and the Turkmenistan-Afghanistan-Pakistan (TAP) high-voltage power transmission line. The group also focused on the establishment of transport routes and in particular, railways from Turkmenistan to Afghanistan. Azizi emphasized the desire of the Afghan business sector to further increase trade with Turkmenistan, develop Afghanistan’s infrastructure, and exploit the transit potential of both countries. Afghan TOLOnews, quoting Mergen Gurdov, head of the Chamber of Commerce and Industry of Turkmenistan, reported that in 2023, trade between Turkmenistan and Afghanistan generated $457 million and this January alone, $46 million. The agro-industrial sector was cited as a promising field for Turkmen-Afghan cooperation, with the Turkmen Foreign Ministry raising the issue of transboundary water resources. Turkmenistan insists that the use of water involves cooperation with neighboring countries, conducted in accordance with international law, and based on principles of mutual respect and in the spirit of traditional good neighborliness. Afghan Minister Azizi pledged that regarding the use of transboundary water resources and construction of water facilities to further the prosperity of his people, Kabul will honour principles of mutual consent and respect for neighboring countries, especially Turkmenistan, with whom Afghanistan has long maintained an amicable relationship. The issue came to the fore last month following Afghanistan’s announcement that construction has begun on the second phase of the Qosh Tepa Canal; a project prioritized by the Taliban- led government since early 2022. By diverting water from the Amu Darya River, the canal will convert 550,000 hectares of desert into farmland in northern Afghanistan, but could also have an adverse effect on agriculture in downstream Uzbekistan and Turkmenistan.

Turkmenistan Eyes Greater Role in Organization of Turkic States

Turkmenistan may become a full member of the Organization of Turkic States this year. Gurbanguly Berdimuhamedov, the country's former president and current chairman of its Halk Maslahaty (People’s Council), suggested as much in response to media questions during the Antalya Diplomatic Forum in Turkey, according to Turkmen state news outlet TDH. The Organization of Turkic States comprises countries that speak Turkic languages: Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, and Uzbekistan. Its principal aim is to promote collaboration and goodwill among its member nations. Turkmenistan is currently only an observer of the organization, together with Hungary. Berdimuhamedov suggested last year during the organization's summit in Astana, Kazakhstan, that the organization could collaborate on a plan he had devised for cooperation in the energy sector.

Turkmenistan and Turkey to Collaborate on Export of Natural Gas to Europe

Turkmenistan and Turkey are to collaborate on a project that will pave the way for transportation of Turkmen natural gas through Turkey to European markets. A declaration of intent on cooperation in the field of hydrocarbon resources, alongside a memorandum on natural-gas partnership between the Turkmen State Concern Türkmengaz and the Ministry of Energy and Natural Resources of Turkey, were signed by Turkish President Recep Tayyip Erdogan and Turkmenistan's Chairman of the People's Council, Gurbanguly Berdimuhamedov at a meeting on the margins of the Antalya Diplomatic Forum on March 1st. The export of Turkmen gas to Europe will necessitate the construction of a gas pipeline across the Caspian Sea to Azerbaijan; a project revisited since the 1990s but not yet implemented. Diversification of natural-gas export routes remains a pressing issue for gas-rich Turkmenistan. Today, China is the largest importer of Turkmen gas, transported by pipeline via Uzbekistan and Kazakhstan. Smaller volumes of Turkmen gas are exported to Russia. Turkmenistan continues to work on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) project to transport natural gas to South Asia. After years of delays in the construction of the Afghan section due to funding and security issues, Turkmen and Afghan authorities are now close to advancing the project.

Turkmenistan to Increase its Power Supply to Afghanistan

At a February 26th meeting between the foreign ministers of Afghanistan and Turkmenistan, Amirkhan Muttaki and Rashid Meredov, Turkmenistan agreed to increase the amount of electricity it supplies to Afghanistan's Herat province. This electricity will be supplied via the Nur al-Jihad power substation, which Turkmenistan had previously upgraded. Last month Turkmenistan and the Afghan electricity company Da Afghanistan Breshna Sherkat (DABS) concluded an agreement for Turkmenistan to supply Afghanistan with 1.8 billion kilowatt hours (kWh) of electricity. The contract was agreed by DABS CEO Muhammad Hanif Hamza during his January visit to Turkmenistan, where he held meetings with the management of the energy corporation Turkmenenergo and with the country’s minister of energy, Annageldi Saparov. The cost of Turkmenistan’s electricity supply to Afghanistan has not been revealed, but a representative of the Afghan Chamber of Commerce and Industry told the news portal Tolo News that it is "inexpensive". Turkmenistan supplies a significant portion of Afghanistan’s electricity, but the two nations' connection run deeper than just the energy sector, with 1.2 million ethnic Turkmen living in Afghanistan.  

Turkmenistan to Proceed with Energy and Transport Projects in Afghanistan

On 26th February, the Minister of Foreign Affairs of Turkmenistan, Rashid Meredov and an Afghan delegation led by acting Foreign Minister, Amir Khan Muttaqi met in Ashgabat to discuss large-scale energy and transport projects. The negotiations focused on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, the Turkmenistan-Afghanistan-Pakistan (TAP) high-voltage power transmission line, and the construction of railways from Turkmenistan to Afghanistan. The Turkmen Foreign Ministry cited ‘a high degree of readiness’ on both sides to continue the construction of these facilities in Afghanistan. TAPI is a major project to transfer Turkmenistan’s natural gas to Pakistan and India through Afghanistan. The construction of the pipeline in Afghanistan, long delayed by financial and security issues, will stretch for 1,840 km and transport more than 30 billion cubic meters of natural gas per year from Turkmenistan's giant Galkynysh gas field. Once completed, the TAPI pipeline will provide Turkmenistan with an additional gas export route, while Afghanistan will receive both its own volume of gas and some $400 million a year in revenue from transit charges. The two foreign ministers also agreed to explore the potential of training specialists in various sectors of the Afghan economy within Turkmen higher and secondary vocational educational institutions. According to Afghan statistics, trade between Afghanistan and Turkmenistan reached $481 million in 2023.