The Caspian Policy Center (CPC) has organized and hosted the 5th Annual Trans-Caspian Forum to explore the business, trade, and investment opportunities between the United States and the Trans-Caspian corridor countries.

According to the Development Strategy Center, the forum was attended by the ambassadors of Afghanistan, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Turkey, Uzbekistan to the United States, and representatives of the U.S. Department of State, U.S. National Security Council, U.S. Department of Commerce and U.S. Agency for International Development, ministers of several countries in the Trans-Caspian region, officials of ministries, think tanks and some other organizations.

Matt Murray, Deputy Assistant Secretary of State for Trade Policy and Negotiations, Bureau of Economic and Business Affairs, U.S. Department of State; Eric Green, Acting Senior Director for Russia and Central Asia, U.S. National Security Council; and Margot Ellis, Acting Assistant Administrator, Bureau for Europe and Eurasia, U.S. Agency for International Development delivered keynote remarks at the ministerial roundtable that focused on the United States role in the region’s foreign policy development to secure economic sovereignty, fight international terrorism, and support investment and private sector growth.

“Uzbekistan has a huge potential in renewable energy sources”, said Eldor Tulyakov, Executive Director of the Development Strategy Center. – Therefore, along with oil and gas, the development of solar, wind and hydropower will improve the market infrastructure in the region. Large-scale activity is being carried out in Uzbekistan, based on concrete measures to develop alternative renewable energy sources.

Director of the Institute for Forecasting and Macroeconomic Research under the Ministry of Economic Development and Poverty Reduction of the Republic of Uzbekistan, Umid Abidkhodjaev, drew the attention of the forum participants to the reforms being carried out in the country, the introduction of innovations in the digital economy and measures taken to reduce poverty in Uzbekistan.

The speakers have recognized the benefits of implementing infrastructure projects to achieve the Caspian region’s geographical potential by designing numerous transportation corridors and connectivity strategies. They discussed the role of the commercially successful energy projects such as the Southern Gas Corridor play in the region’s economy and geopolitics, and plans to diversify the Caspian’s energy portfolio beyond hydrocarbons.

At the forum, proposals and recommendations based on foreign experience and international practice were expressed on the development of Trans-Caspian relations and infrastructure, facilitating the implementation of infrastructure projects that contribute to further development of the Greater Caspian region, as well as attracting the private sector to these efforts.

UzA