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Central Asia develops economic cooperation

Central Asia develops economic cooperation
On September 20, the First CAREC Energy Ministers’ Dialogue and the Energy Investment Forum 2019 kicked off in Tashkent.

The First Regional Dialogue of Energy Ministers of the Central Asia Regional Economic Cooperation member countries was attended by energy ministers of Uzbekistan, Afghanistan, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Pakistan, and Tajikistan. The Turkey’s Energy and Natural Resources Minister participated as an observer.

At the opening ceremony of the event, the Minister of Energy of the Republic of Uzbekistan Alisher Sultanov read out the greeting of the Prime Minister of the Republic of Uzbekistan Abdulla Aripov.

During the dialogue, views were exchanged on the issues of further regional cooperation in the energy sector. It was noted that in connection with the need for ensuring economic growth in Central Asia and the increasing demand for energy by 2030, the region will need to double its energy capacity. This, in turn, will require bringing the total volume of investments attracted into the sphere to 400 billion dollars.

Within the framework of the dialogue, presentations were made on creating acceptable conditions for investors, suggestions were made on strengthening the security of regional energy, reforming the state energy system and liberalizing energy markets.

The ministers of energy of the CAREC member countries signed a joint declaration. This historical document provides for the development and implementation of the CAREC Energy Strategy 2030, strengthening cooperation in achieving the UN Sustainable Development Goals.

CAREC Energy Strategy for the next 10 years was approved at the event.

On the same day, the participants of the dialogue attended the Energy Investment Forum 2019, in Tashkent.

The event was organized to open up new opportunities in the energy sector of the region, attract private investment. Among the participants are heads of the energy sector, investors, representatives of international financial institutions, the diplomatic corps, and businesspeople.

Issues of transition to alternative energy sources, regional startups and innovative business models in the energy sector are being discussed at the event.

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Malokhat Khusanova, UzA