Azerbaijan, Baku, 29 May / corr. Trend M. Aliyev/ The Coordinating Council of GUAM for Bank Affairs is expected to be established very soon, Valeriy Chechelashvili, the secretary general of GUAM said to journalists on 29 May.
"I am sure that the Bank of GUAM will be established," secretary general said.
According to Chechelashvili, at present, work is carried out to build Poti-Kerch railway ferry crossing. "The project aims at improving transit potential of GUAM states," Chechelashvili added.
Four post-Soviet republics; Georgia, Ukraine, Azerbaijan and Moldova, established the GUAM format in 1997 during a summit of presidents of European Union countries in Strasburg. In 1999, Uzbekistan joined the organization but left four years later. In 2006, at the first summit of the organization in Kiev a decision was made to announce GUAM as an international organization with a new name; Organization for Democracy and Economic Development - GUAM.
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