Brussels hosted the EU–Central Asia High-Level Dialogue on Economic and Financial Cooperation, with Deputy Minister of Finance and Economy of Turkmenistan Babaniyaz Yalakov taking part, Orient.tm reports.
The event, held under Poland’s presidency of the Council of the EU in close collaboration with the European Commission, brought together representatives of Central Asian states, EU institutions, and leading European international financial organizations.
During the forum, Deputy Minister Yalakov delivered a speech outlining Turkmenistan’s vision for expanding economic and financial cooperation with the European Union. He emphasized the importance of strengthening multilateral cooperation mechanisms. The discussions focused on key sectors such as infrastructure, sustainable energy, digitalization, water management, and the extraction of critical raw materials, in the context of the EU’s Global Gateway strategy.
The Turkmen delegation also took part in several working sessions with the European Investment Bank, the European Bank for Reconstruction and Development (EBRD), and the JEFIC network — a coalition of major European development banks. EU representatives presented investment initiatives totaling over €12 billion, including €3 billion allocated for transport projects under the Team Europe framework.
Key topics included the development of the Trans-Caspian transport corridor and partnerships in green energy, including pilot projects in hydrogen energy. It was noted that Central Asia has become a priority region under the EU’s strategy for critical raw materials, with a strong focus on building value-added chains in the region. The EBRD introduced the JUMP initiative, aimed at supporting emerging mining companies.
In the closing session, Turkmenistan’s Ambassador to Belgium, Sapar Palvanov, also addressed the forum. He reaffirmed Turkmenistan’s openness to active cooperation with leading European development banks, particularly in light of the country’s strategy to diversify its national economy and expand international investment partnerships.
Ambassador Palvanov emphasized that Turkmenistan regards European development institutions as reliable partners in implementing infrastructure and technology-driven projects that support sustainable growth.
The participation of the Turkmen delegation, led by Deputy Minister Yalakov, underscored the country’s commitment to enhancing dialogue with European institutions and its readiness to engage in regional integration and explore opportunities in sustainable infrastructure and development financing.
CentralasianLIGHT.org
May 14, 2025