Eight countries from Central Asia and the South Caucasus have established the Regional Alliance of Investment Councils (RAIC), according to UzDaily following a panel session of the Tashkent International Investment Forum held on June 17.
The alliance includes Armenia, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan and representatives of the Caucasus region.
The alliance was established to coordinate investment policy and promote cross-border projects. According to head of the Secretariat of the Foreign Investors Council Aziz Gafurov under the President of Uzbekistan, investment opportunities in Central Asia are becoming increasingly regional in nature.
The initiative is being implemented with the support of the Asian Development Bank and the European Bank for Reconstruction and Development. The alliance’s secretariat will be based in Uzbekistan.