On July 18, 2024, political consultations between the Ministries of Foreign Affairs of Turkmenistan and Romania took place in Bucharest. The Turkmen side was headed by Deputy Minister of Foreign Affairs of Turkmenistan Akhmet Gurbanov, the Romanian side was headed by Secretary of State of the Ministry of Foreign Affairs of Romania Ana Tinka.
Turkmenistan, Azerbaijan, Georgia, and Romania are set to sign a quadrilateral intergovernmental agreement to establish the international transport route "Caspian Sea – Black Sea" in Bucharest in 2024, the Ministry of Foreign Affairs of Turkmenistan reported on Tuesday.
The announcement followed discussions in Bucharest between Adrian Gheorghe Focsa, Secretary of State of the Ministry of Transport of Romania, and Akhmet Gurbanov, Deputy Minister of Foreign Affairs of Turkmenistan. The officials held "an in-depth and engaged dialogue on all key areas of the bilateral agenda, including issues of political and diplomatic cooperation, trade, economic, cultural, and educational partnership," the ministry said.
The route aims to enhance connectivity between Europe and Central Asia, facilitating the movement of goods and boosting regional trade. This initiative aligns with earlier reports of potential Turkmen gas supplies through Azerbaijan and Georgia to Turkey.
The European Union has expressed strong support for the project, planning to invest 10 billion euros in the Trans-Caspian Transport Corridor, which will link Europe and Central Asia. The investment underscores the EU's commitment to strengthening economic ties and energy security in the region.
Economics
-
Heads of national road transport associations from member states of the Organization of Turkic States (OTS - TDT) gathered in Istanbul to launch a landmark initiative: the creation of the International Association of Road Transporters (TDT-URTA). This ambitious plan, unanimously approved by all participants, marks a significant step toward enhancing cooperation in road transportation among Turkic-speaking nations.
-
The European company Tree Energy Solutions (TES), with headquarters in Switzerland and Belgium, has signed a Joint Study Agreement (JSA) with SOCAR during COP29. The agreement aims to explore the development of a project for producing electricity from natural gas in the form of e-NG (synthetic methane) and hydrogen in Azerbaijan.
-
EU Commissioner for Climate, Wopke Hoekstra, voiced his concerns about the inclusiveness of discussions surrounding key documents at the COP29 summit during a session organized by the presidency on November 21, called the "Kurultai" (the official name of the event).
-
Azerbaijan plans to allocate 7.676 billion manat ($4.5 billion) for the financing of the State Social Protection Fund (SSPF) in 2025, marking a 10.5% rise from the 2024 budget, according to Musa Quliyev, Chairman of the Parliamentary Committee on Labor and Social Policy.
Leave a review