ADB assists Turkmenistan in diversifying export markets
Ashgabat, Turkmenistan, Aug. 31
By Huseyn Hasanov – Trend:
The Asian Development Bank (ADB) assists Turkmenistan in diversifying export markets and strengthening regional ties, Trend reports referring to Neutral Turkmenistan newspaper.
According to an interview with ADB Director for Turkmenistan C. C. Yu published by the newspaper, ADB follows a five-year partnership strategy with Turkmenistan (2017–2021).
ADB is interested in assisting the country in diversifying its markets and make it a trade and transit hub in the region.
C. C. Yu drew attention to the fact that the transport and energy projects forming key corridors, including the Turkmenistan – Afghanistan – Pakistan – India (TAPI) gas pipeline, the Turkmenistan – Uzbekistan – Tajikistan – Afghanistan – Pakistan (TUTAP) and Turkmenistan – Afghanistan – Pakistan (TAP) power lines, are the priority spheres for the possible use of ADB financial resources.
“These projects would allow Turkmenistan to export its goods and services and receive foreign currency, which is important as the country's foreign borrowing for the implementation of projects is also in foreign currency,” C. C. Yu said.