Turkmenistan is developing the East–West and North–South transport corridors.

Turkmenistan is developing a modern transport infrastructure to transform the country into one of the key hubs for transport connectivity along the East–West and North–South corridors, said Babaniyaz Yalakov, Deputy Minister of Finance and Economy of Turkmenistan.

“One of the priorities of Turkmenistan’s investment development is the improvement of modern transport and logistics infrastructure, turning our country into one of the centers of transport communication along the East–West and North–South routes,” Yalakov stated during the Days of Turkmen Economy in Germany.

He noted that Turkmenistan is located at the crossroads of several interregional trade routes, which contributes to expanding the access of domestic producers to new foreign markets.

According to Yalakov, Turkmenistan has a well-developed air network with seven international airports and promising railway routes, including the TRACECA transit corridor. The country lies on the Trans-Caspian International Transport Route connecting Europe and China and also participates in the North–South Transport Corridor and the Lapis Lazuli Corridor, linking Afghanistan with Turkey.

The Deputy Minister reported that the country’s road transport system has undergone significant modernization. This year, the construction of the third phase of the Ashgabat–Turkmenabat highway is expected to be completed, which will connect Turkmenistan with Uzbekistan. The Turkmenbashi International Seaport, with its advanced infrastructure, has improved access to global maritime routes and increased the volume of sea freight.

Yalakov also noted that Turkmenistan continues active efforts toward accession to the World Trade Organization (WTO). Special attention is being paid to finalizing the Memorandum on the Foreign Trade Regime and to the gradual implementation of WTO standards and regulations in close cooperation with the organization’s Secretariat.

The Days of Turkmen Economy are taking place on October 30–31 in Frankfurt am Main. The event is organized by the Chamber of Commerce and Industry of Turkmenistan in cooperation with TMT Consulting Group.

Source of information:  Turkmenportal