The Permanent Secretariat of the Intergovernmental Commission of TRACECA and the Institute of Central Asian Regional Economic Cooperation agreed on cooperation. A Memorandum of Understanding between the two organizations was signed at the TRACECA headquarters in Baku on September 10.
“Transport networks in many TRACECA and CAREC member countries need to be modernized. This requires significant funds, which are not fully covered by governments. To this end, TRACECA and CAREC will work closely with international financial institutions and facilitate the participation of the private sector in the financing and management of transport projects,” Mircha Choraga, Permanent Secretariat of Intergovernmental Commission TRACECA said.
In turn, Director of the CAREC Institute Bayara Sanjasuren noted that today the organization is implementing an investment program in the field of transport systems development.
“We believe that our organizations would be able to make a significant contribution to the development of cooperation among the countries of Central Asia and even different regions. We will unite efforts not only in the field of transport, which is the priority for TRACECA, but also in the field of trade, agriculture and in energy, what CAREC is doing,” Bayara Sanjasuren, Director of CAREC Institute said.
Earlier, the intergovernmental commission of TRACECA implemented projects funded by the European Commission. The organization have implemented about 170 projects during 20 years of its activity. National secretary of TRACECA on Azerbaijan Akif Mustafayev said in an interview with CBC that the country is doing a tremendous job within both organizations. These are projects of regional significance, for example, the construction of the Baku-Tbilisi-Kars railroad, the international sea trade port in the village of Alat, as well as the main lines connecting Baku to the Georgian border and others.
“Very large work is being done, and to be honest, the potential of these corridors has not yet been fully used. I hope that the signing of such memoranda, if filled with technical content in the future, will help add to the potential of Europe-Caucasus-Asia transportation, Akif Mustafayev said.
It should be noted that TRACECA is an international program of cooperation in the field of transport between the EU and partner countries in the Eastern Europe, the South Caucasus and Central Asia. The CAREC program, founded in 1997, is a partnership of 11 countries of the world, as well as a number of leading international financial institutions.