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    Uzbekistan

    First formal EU-CA summit to be held in April in Uzbekistan

    First formal EU-CA summit to be held in April in Uzbekistan

    The first formal summit of the European Union (EU) and Central Asia is set to take place in Uzbekistan in April 2024, DW reports. This announcement was made by the Deputy Chairman of the European Commission, Margaritis Schinas, at an investment forum in Brussels.

    Flags of Uzbekistan.
    Source: Daryo

    The EU will be represented at the summit by Ursula von der Leyen, the head of the European Commission, and Charles Michel, the President of the European Council.

    Preparations for the Summit

    In preparation for this summit, the foreign ministers of the five Central Asian countries met for the first time on October 23, 2023, with representatives of all 27 countries of the European Union. This meeting marked a significant step towards strengthening the ties between the EU and Central Asia.

    EU’s Commitment to Central Asia

    The EU has expressed its readiness to offer Central Asian countries a partnership to transform global challenges into joint opportunities. Josep Borrell, the EU High Representative for Foreign Affairs and Security Policy, emphasized the Europeans’ desire to deepen strategic cooperation with the countries of Central Asia.

    Flags of EU and Uzbekistan.
    Source: Daryo

    As per Borrell, Brussels is ready to provide ongoing support for reforms in Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.

    Investment in the Trans-Caspian Transport Corridor

    A significant part of the EU’s commitment to Central Asia is its investment in the Trans-Caspian Transport Corridor. Valdis Dombrovskis, the Vice-President of the European Commission, announced the EU’s commitment to invest €10bn in the corridor at the investment forum in Brussels.

    The map of the Northern Corridor, Trans-Caspian Route, and Ocean Route.
    Source: Daryo

    The international partners present at the forum committed to providing €10bn of investment to develop sustainable transport connectivity in Central Asia. This includes new commitments of €1.5bn from the European Commission and the European Investment Bank, as well as additional funds under the European Commission’s Open Investment Guarantee Architecture.

    The European Commission clarified that the obligations amounting to €10bn are current and planned investments. The EC expects to mobilize this amount in the short term for sustainable transport development in Central Asia.

    On January 29, during a forum in Brussels, the European Investment Bank signed memorandums of understanding totaling €1.47bn with the governments of Kazakhstan, Kyrgyzstan, and Uzbekistan, as well as with the Development Bank of Kazakhstan. The EU emphasizes that these loans will be made possible thanks to guarantees provided by the European Commission.

     

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    31.01.2024, 18:23   Comments (0)   2929
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