ASHGABAT (TCA) — A Memorandum of Understanding has been signed in Ashgabat between the Ministry of Railway Transport of Turkmenistan and the Afghanistan Railway Authority for a major overhaul of the railway line from the Turkmen station of Serkhetabat to the Afghan border station of Torghundi, the State News Agency of Turkmenistan reported. The modernization project provides for total rebuilding of the section that will be financed entirely by Turkmenistan. The project includes the construction of a 13-km-long railway track and modern infrastructure.

With this project, Afghanistan’s transport network will be linked to Turkmenistan’s railway system via the border station of Torghundi with access to third countries.

The Memorandum is based on economic, historical and cultural ties between Turkmenistan and Afghanistan, and the successfully completed Atamyrat-Ymamnazar-Aqina railway project that has substantially contributed to promoting trade and economic relations between the two neighboring countries, increasing trade turnover and rail freight transit.

The new project will enhance the border station’s handling capacity, and will increase its importance for landlocked Afghanistan’s trade turnover. The modernized track will ensure the most convenient and reliable way for the country to export domestic products to foreign markets and import goods from abroad.

It is part of the large-scale project of construction of a railway from Turkmenistan to Afghanistan (its first phase, the Atamyrat-Ymamnazar-Aqina Railway, was completed last autumn). Today, the two countries are closely collaborating on the issue to continue the project in Afghanistan. In the long term, the railway is planned to reach the border of Tajikistan and become a significant part of the Asian International Railway Corridor.

BISHKEK (TCA) — Three international organizations — the International Islamic Trade Finance Corporation (ITFC), the UN Development Programme (UNDP), and the International Trade Centre (ITC) — have launched a new trade intelligence training programme for Central Asia, to support the trade and export capacities of the businesses in this region.

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BISHKEK (TCA) — Kyrgyzstan’s President-elect Sooronbai Jeenbekov was inaugurated on November 24 in the country’s capital, Bishkek.

Jeenbekov replaced President Almazbek Atambayev, who was constitutionally barred from seeking a second term, in a first peaceful transfer of power in Kyrgyzstan and the Central Asia region.

Jeenbekov was Atambayev’s prime minister from April 2016 to August 2017.

After taking the oath during the inauguration ceremony, President Jeenbekov promised to award Atambayev by his first presidential decree.

“The past honest [presidential] elections are your merit. You deserve the high title of the Hero of the Kyrgyz Republic and Ak-Shumkar badge of merit. By my first decree I intend to award you, Almazbek Sharshenovich,” Jeenbekov said as reported by 24.kg news agency.

Speaking at the inauguration ceremony Jeenbekov said that priority direction in the policy of the new president of Kyrgyzstan will be the fight against corruption.

The new president promised to fight corruption and ensure the transparency of the work of the judicial system.

“We must significantly improve the infrastructure of the courts and introduce a digital justice system, then there will be transparency and responsibility of the judges,” Jeenbekov said.

The new president emphasized the continuation of the strategic partnership with Russia.

“We will develop cooperation with the countries of the European Union, Japan, Korea, India, Mongolia, China, Turkey, and the United States,” he added.

According to official results, Jeenbekov won the October 15 election with 54 percent of the vote after a campaign in which critics said the outgoing president used the courts, law enforcement, and other levers of power to put his former prime minister in power, RFE/RL’s Kyrgyz Service reported.

International observers have praised the vote as competitive and transparent, but said that “numerous and significant problems were noted” during the count and that “misuse of public resources, pressure on voters, and vote buying remain a concern.”

KABUL (TCA) — The government of Afghanistan and the German KfW Development Bank signed a financial agreement on November 23 according to which Germany will provide 6.44 billion AFs (around $93 million) in aid to the Afghan government, TOLOnews reported.

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ASHGABAT (TCA) — The 6th Turkmen-Russian Economic Forum took place in Turkmenistan’s capital Ashgabat on November 22 to specify the most promising areas for developing efficient collaboration, the state-run Turkmenistan Golden Age Newspaper reported.

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TASHKENT (TCA) — A number of important agreements aimed at expanding economic and trade cooperation have been reached before and during the ongoing state visit of Uzbekistan President Shavkat Mirziyoyev to the Republic of Korea, the Jahon information agency reports.

The Ministry for Foreign Trade of Uzbekistan and the Ministry of Trade, Industry and Energy of the Republic of Korea discussed the possibility of establishing a free trade zone and reached agreement on the need to ensure preferential access to the markets of the two countries.

In this regard, heads of the ministries adopted a decision on holding the first meeting of the joint working group until the end of this year. The meeting is set to contribute to the preparation of a bilateral Agreement on preferential trade between Uzbekistan and the Republic of Korea.

The Export-Import Bank Korea Eximbank and the National Bank of Uzbekistan have signed a loan agreement worth $150 million.

The agreement is expected to provide a credit line for financing small business and investment projects involving the acquisition of equipment, goods and services of Korean production.

The credit line is set to cover projects in the areas of agriculture, food industry, medicine, production of construction materials, and automotive industry.

Before the president’s visit to South Korea, on November 16-18, a delegation of Uzbekengilsanoat light-industry JSC held a number of meetings and negotiations in Seoul.

Following meetings with heads of large Korean trading companies Posco Daewoo, Color of Paradise, Solsang International Corp, RATEL E&T co., Ltd, Korea Factory and trading networks Lotte Mart, the parties reached agreements (contracts and protocols of intentions) to export $70 million worth of textile products from Uzbekistan to Korea in 2017-2018.

The Agency for development of the pharmaceutical industry under the Ministry of Health of Uzbekistan has reached an agreement on organization of production of highly effective Korean medicines in Uzbekistan.

The Korean side will invest $25 million in direct investments. Agreements were reached with such leading Korean companies as Dalim BioTech, Yuhan Corporation and Erae.

Special attention was paid to the organization of 7 new pharmaceutical free economic zones in Uzbekistan.