A panel session “Transport connectivity – a driver of economic growth and international trade” took place within the framework of the Second Tashkent International Investment Forum.

During the discussion, the speakers raised an urgent problem for Central Asia – what should the countries of the region do to reduce transport costs? The measures necessary to increase the volume of trade between Central Asia and European countries, as well as opportunities for private investors, including a policy of increasing connectivity between the countries of the region, were discussed.

“Our country can become a bridge between Europe and Asia, there are all the necessary resources for this”, says the Minister of Transport of Uzbekistan Ilkhom Mahkamov. – We are ready to actively participate in the North-South and East-West corridors, we can create conditions for the movement of freight forwarders and carriers throughout Uzbekistan. The task set for us by the Head of state to become a driver of economic development and investment environment is being consistently implemented, and the participation of private and investment capital is important in this process.

As it was noted at the event, according to statistics, more than 90 percent of cargo transportation in the intercontinental trade between Asia and Europe is carried out by sea. Landlocked developing countries spend almost 18 percent of their income on transport services.

“Thanks to our geographical location, we can serve as a bridge between Europe and Asia”, says the Secretary General of the Organization of Turkic States, Ambassador Kubanychbek Omuraliev. – And, of course, transport links play an important role in the regional integration of member states and observer states. The Organization of Turkic States is interested in the accelerated development of transport corridors, increasing the flow of goods and services between the countries of the region. We are focused on the development of the East-West corridor, which will allow us to ensure the sustainability of transport systems. This, in turn, will serve to activate industrial sectors, increase the competitiveness and attractiveness of our countries.

At the panel session, experts unanimously agreed on the need for developing a corridor connecting East and West. If earlier it was considered as an alternative way, now, taking into account the current geopolitical situation in the world, its role and importance are increasingly enhancing.

G.Sattorova, UzA