Caspian-Black Sea transport route agreement set for 2024 signing

Turkmenistan, Azerbaijan, Georgia, and Romania are set to sign an intergovernmental agreement to create the Caspian Sea-Black Sea international transport route in Bucharest in 2024, according to a Turkmen Foreign Ministry report.

Key meeting between Turkmenistan, Romania

Turkmenistan’s Deputy Foreign Minister Ahmet Gurbanov met with Adrian Gheorghe Fogis, the State Secretary of Romania’s Ministry of Transport and Infrastructure, in Bucharest last Thursday. The talks reaffirmed the commitment to finalize and sign the quadripartite agreement in 2024.

Focus on transport, cooperation

During their meeting, Gurbanov and Fogis discussed the implementation of existing agreements in the transport sector and explored future opportunities for mutually beneficial cooperation in transit and transport.

These discussions are part of the broader Global Gateway initiative, which aims to mobilize up to 300 billion euros ($325.04 billion) in investment between 2021 and 2027.

Strategic investment initiative

The Global Gateway initiative, launched by the European Union, focuses on enhancing global connectivity by investing in sustainable and high-quality infrastructure. The proposed Caspian Sea-Black Sea transport route is expected to be a significant component of this initiative, promoting increased trade and economic integration among the participating countries.