(MENAFN- Trend News Agency)
BAKU, Azerbaijan, October 19. Uzbekistan's
accession to the Eurasian Development bank (EDB) will give an
additional impetus to the implementation of large-scale plans to
develop the country's Economy through new major investment
projects, as well as serve to strengthen industrial cooperation
with the bank's member states, Chairman of the EDB Board Nikolay
Podguzov told Trend .
"Uzbekistan holds a strategically important geographical
position in Central Asia, which opens up unique opportunities for
various investment projects. The country shares borders with three
of the six EDB member states and serves as an important transport
hub for several Eurasian transport corridors. The coincidence of
interests among our member states and Uzbekistan in the development
of the Eurasian transport framework should facilitate the expansion
of investment cooperation and the implementation of joint projects
in the field of transport infrastructure," he said.
According to him, potential projects include the creation of
logistics centers, "dry" ports, and border points. These
initiatives aim to enhance Central Asia's overall transportation
and logistics system, thereby reducing the time and cost associated
with the delivery of goods, particularly food. Improving the
North-South corridor's accessibility through Uzbekistan and
Turkmenistan could also open up new trade opportunities, including
projects under the One Belt, One Road initiative.
"By developing new transportation routes, eliminating
bottlenecks in the transport and logistics system, and improving
the soft infrastructure, the transport connectivity of the
countries of the Eurasian region with actively developing markets
in Asia and the Middle East will increase," Nikolay Podguzov
said.
The chairman of the bank's board also stated that Uzbekistan's
participation in the EDB will contribute to the implementation of
major projects in Central Asia's water and energy complex. This
area of cooperation is especially critical for Uzbekistan, which
provides 47 percent of irrigated land, 46 percent of water
withdrawal, and 43 percent of the region's generating capacity.
"Thus, Uzbekistan's accession to the EDB opens up broad
prospects for deepening regional cooperation and implementation of
major cross-border projects in the areas of transport
infrastructure, food security, water, and energy complex, which
will be important for increasing the competitiveness of the entire
Central Asia," he added.
Earlier, EDB Board Chairman Nikolay Podguzov said that
Uzbekistan may join the Eurasian Development Bank by the end of
2024.
Additionally, by the end of this year, an EDB country office
will open in Tashkent, enhancing cooperation and accelerating the
financing of priority projects.
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