Oriented on making people closer

The EU-Central Asia High-Level Dialogue on Economic and Financial Cooperation was held in Brussels on 12-13 May, with the participation of Deputy Minister of Finance and Economy of Turkmenistan Babaniyaz Yalakov. The event, organised under the Polish Presidency of the EU Council and in close cooperation with the European Commission, brought together representatives of Central Asian states, EU institutions and leading European international financial organizations.

As part of the program, Deputy Minister Yalakov delivered a speech outlining Turkmenistan’s vision for expanding economic and financial cooperation with the European Union, and stressed the importance of strengthening multilateral cooperation mechanisms. Particular attention during the discussions was paid to infrastructure projects, sustainable energy, digitalization, water supply and the extraction of critical minerals in the context of the EU Global Gateway strategy.

The Turkmen delegation also took part in a number of working sessions with the European Investment Bank, the European Bank for Reconstruction and Development, and the JEFIC network, which unites leading European development banks. EU representatives announced investment initiatives worth more than 12 billion euros, including 3 billion euros for transport projects within Team Europe.

Important topics of discussion included the development of the Trans-Caspian Transport Corridor, partnership in the field of green energy, including pilot projects in the field of hydrogen energy. It was noted that Central Asia has become a priority region in the EU strategy on critical raw materials, with an emphasis on the creation of value chains in the region. The EBRD presented the JUMP initiative aimed at supporting young mining companies.

During the final session, Ambassador of Turkmenistan to Belgium Sapar Palvanov also made a speech, emphasizing that the Turkmen side is open to active interaction with leading European development banks, especially in the context of the ongoing strategy to diversify the national economy and expand international investment partnerships. The Ambassador noted that Turkmenistan views European development institutions as reliable partners in the implementation of infrastructure and technology projects aimed at ensuring sustainable growth.

The participation of the Turkmen delegation, led by the Deputy Minister of Finance and Economy, in the meetings in Brussels demonstrated Turkmenistan's commitment to expanding dialogue with European institutions, the country's openness to constructive participation in regional integration and exploring opportunities for cooperation in the field of sustainable infrastructure and development financing.

ORIENT

Photo: courtesy of the Embassy of Turkmenistan in Belgium