Turkmenistan Negotiates North-South And East-West Corridor Development With ECO
Date
9/27/2024 9:09:56 AM
(MENAFN- Trend News Agency)
ASHGABAT, Turkmenistan, September 27.
Turkmenistan and the Economic Cooperation Organization (ECO) will
strengthen their partnership to increase the potential of transport
and transit corridors in North-South and East-West directions,
Trend reports,
referring to the Ministry of Foreign Affairs of Turkmenistan.
According to the information, the issue was discussed at the
meeting of Foreign Minister Rashid Meredov with ECO Secretary
General Asad M. Khan on the margins of the 79th session of the UN
General Assembly in New York.
The sides emphasized the importance of strengthening
cross-border economic activities through corridors, which play a
strategic role in the integration of regional economies.
The meeting discussed prospects for further cooperation in areas
such as energy, communications, trade, and digitalization and
cultural ties.
The minister also reiterated his readiness to actively
participate in strengthening the international legal framework
within the ECO framework and enhancing the human resource potential
of the organization. Furthermore, the sides considered
strengthening partnerships within the framework of the UN
platforms.
Turkmenistan actively participates in the development of the
North-South and West-East transport corridors, which increases the
country's role in regional logistics.
Turkmenistan, together with Russia, Kazakhstan, and Iran, signed
a roadmap in July 2024 to promote the eastern branch of the
North-South corridor. The initiative aims to increase the capacity
of the corridor to 15 million tons per year by 2027 and 20 million
tons by 2030. The corridor is designed to provide efficient
multimodal transport routes linking the Indian Ocean with the
Caspian and Baltic Seas, significantly reducing transit costs and
time compared to traditional routes.
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