Signing of Memorandum on KTI Railway Corridor’s Commercialization Discussed Online

Signing of Memorandum on KTI Railway Corridor’s Commercialization Discussed Online

Turkmenistan proposed to sign a Memorandum on the commercialization of the Kazakhstan-Turkmenistan-Iran (KTI) railway corridor during an online meeting of the Regional Planning Council of the Economic Cooperation Organization (ECO) on Friday, the Ashgabat-based Orient news outlet reports.

At the meeting chaired by the Deputy Minister of Finance and Economy of Turkmenistan Toyly Myalikov, the Turkmen side proposed to sign the document on January 28 next year in Ashgabat, on the ECO Day.

The memorandum will help to increase the economic potential of the railway corridor capable of transporting up to 12 million tons of cargo annually. So far, on average, only about 1 million tons of cargo per year are transported through this corridor, according to the report.

The Turkmen side noted that within the framework of working meetings between representatives of the railway departments of these countries, the initiative on the Memorandum was fully supported, and stressed that this document will strengthen the economic prosperity in the region and contribute overcoming the negative consequences of the coronavirus pandemic.

At the same time, the meeting participants emphasized the presence of significant potential for strengthening cooperation in the fields of economy, trade, transport, energy and investment to achieve the goals set out in the ECO Vision 2025.

The Turkmen side at the online meeting was represented by delegates from the ministries of Trade and Foreign Economic Relations, Energy, Healthcare and Medical Industry, Education, Culture, the State Committee on Statistics, the Agency for Transport and Communications, the Türkmengaz State Concern, the Academy of Sciences, the Chamber of Commerce and Industry and Union of Industrialists and Entrepreneurs of Turkmenistan.

More related articles

Digest of the main news of Turkmenistan on December 7
A new head has been appointed in the Migration Service of Turkmenistan, performances by Russian circus artists continue in Ashgabat, Turkmenistan has increased natural gas supplies to Azerbaijan and other news
January-June: Turkmenistan's Foreign Trade Turnover Increases by 8 Percent
Rally "Silk Way-2023": the team of the Automobile Sports Federation of Turkmenistan finished in the top three
Turkmen racers win two medals at the 2023 Silk Way Rally
Serdar Berdimuhamedov approved the “Rules for the sanitary protection of the territory of Turkmenistan”, the procedure for admission to study at universities and vocational schools of Turkmenistan in 2023 was publishedand other news
The President of Turkmenistan sent the Government on vacation from August 1 to September 1, the population of Turkmenistan amounted to more than 7 million people, the first health festival will be held in Ashgabat and other news