Global Gateway Investors Forum: €10 Billion Committed For Regional Development

BUSINESS TURKMENISTAN
Global Gateway Investors Forum: €10 Billion Committed For Regional Development
Speech by Executive Vice-President Valdis Dombrovskis at the Global Gateway Investors Forum, January 29, 2024, Brussels, Belgium.

The international community at the Global Gateway Investors Forum pledged €10 billion to bolster regional integration, fortify trade relations, and drive economic development in Central Asia, as announced during Global Gateway: Sustainable Transport Connectivity between Europe and Central Asia Forum in Brussels on Monday.

Executive Vice-President Dombrovskis, as reported by the European Commission on Monday, highlighted the importance of developing alternative connections and transport corridors for regional benefit.

During the conference, Dombrovskis expressed confidence that the forum would unlock new trade opportunities and fuel economic growth in Central Asia. The ultimate objective is to transform the Trans-Caspian Transport Corridor into a multimodal, competitive, sustainable, smart, and expedient route linking the two regions within 15 days.

As reported, The EU, accounting for over 42% of total Foreign Direct Investment in Central Asia, stands as the second-largest trading partner. Recent advancements in EU-Central Asia relations, particularly in trade and connectivity, have been notable.

The €10 billion commitment from the international community, including the European Commission, the European Investment Bank, the European Bank for Reconstruction and Development, and private investors, underscores a strong dedication to the strategic partnership between Europe and Central Asia. It reinforces the shared commitment to achieving sustainable transport connectivity in Central Asia, the EC reports.

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