Azerbaijan signs memo on mutual understanding on establishment of Forum of energy regulating bodies
On 6 November 7 countries undersigned a memorandum on mutual understanding on the establishment of a forum on energy regulating bodies in the Central Asia. Baku Office of the Asian Development Bank told Trend, an agreement was inked by Azerbaijan, China, Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan and Uzbekistan.
The Forum targets assisting its members in obtaining benefits from general experience following reforms in the electricity sector and promoting closer cooperation to cover energy demand in the region and stimulate its export.
вЂњThe Forum assumes special importance in terms of discussing the challenges and benefits in the process of reforming the electricity sector,вЂќ Anil Tervey, the Director of the Energy Division of the ADBвЂ™s Department for East and Central Asia.
According to Tervey, after adequate implementation of reforms, directed at ensuring organic development of energy trading, the Forum is expected to promote harmonization of standard-legal base of the energy sector with regard to establish opportunities for deepening trade and foreign investments.