Turkmenistan in CAREC
- Turkmenistan joined CAREC in 2010
- As of 2015, $569 million has been invested in transport projects
- 2 ongoing CAREC projects
- 1 completed CAREC project
CAREC in Turkmenistan
Turkmenistan joined CAREC in 2010 and embraces the program’s vision of an integrated and globally connected region. The country is participating in the planning of regional projects in transport, trade, and energy security.
The country’s membership in CAREC boosts the program’s goal of building greater connectivity through six international transport and trade routes. Now that all five Central Asian countries— Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan—are members of the program, there are no missing links in CAREC’s transit trade routes between East Asia and the Mediterranean.
CAREC Corridor 2 and Corridor 3 pass through Turkmenistan, connecting the country to a network that extends west through Azerbaijan to Turkey and Europe; eastward to the PRC, north to Kazakhstan and the Russian Federation, and south to Pakistan's warm-water ports of Karachi and Gwadar, on the Arabian Sea.
Turkmenistan is taking part in a drive to put Central Asia’s landlocked nations at the heart of an expansive and integrated transport network across Eurasia.
Since 2010, $569 million has been invested in transport projects. As a new CAREC-member state, Turkmenistan is looking forward to participating in regional initiatives that will benefit the development of its economy.
Highlights from the Asian Development Outlook 2016:
Growth slowed to 6.5% in 2015 with the decline in global energy prices, and the current account deficit widened to 11.8% of GDP with exports falling more than imports. Growth is forecast to remain at 6.5% in 2016 on reduced energy earnings, then recover to 7.0% in 2017 with expected higher petroleum prices. Diversifying the highly concentrated export sector would help smooth output volatility and create jobs to absorb a young and growing working-age population. Read full report
The United Nations Development Programme prepares reports on human development in Turkmenistan.