C5+1 Countries see Trans-Caspian route boosting U.S.-Central Asia trade

Photo: World Bank

BAKU, Azerbaijan, October 20. Shared efforts to further develop the Trans-Caspian Trade Route will catalyze unprecedented two-way trade and investment between Central Asia and the United States, according to the U.S. Department of State.

This is stated in a joint statement released by the governments of the U.S., Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan on the occasion of the C5+1 Ministerial in Samarkand.

“We will strive for a Central Asia that returns to the center of the global economy. Our shared efforts to further develop the Trans-Caspian Trade Route will catalyze unprecedented two-way trade and investment between Central Asia and the United States and unlock opportunities in high-growth markets,” the statement said.

The statement says that the countries are supporting greater regional economic integration in Central Asia through the expansion of intraregional trade, improved transport connectivity, harmonized customs procedures, and stronger industrial cooperation, with the aim of creating a competitive regional market connected with the United States.

"A thriving B5+1 platform will continue to create new mutually beneficial commercial opportunities for American companies operating in Central Asia. At the same time, our governments envision expanded opportunities for Central Asian enterprises to invest in, and operate within, the U.S. market. By leveraging secure and trusted technology, American technological excellence, and the growing technology sectors of Central Asia, we seek to foster a region where e-commerce flourishes, innovative solutions abound, and talented entrepreneurs thrive," the statement said.