Turkmenistan in CAREC
- Turkmenistan joined CAREC in 2010
- Since 2010, $569 million has been invested in transport projects
- Turkmenistan currently has two ongoing projects
- Since 2010, one CAREC project has been completed
North-South Railway Project
Expected outcome: The project will increase regional trade by improving Turkmenistan's accessibility to Kazakhstan, the Persian Gulf countries, the Russian Federation, and South Asia, through better connectivity with neighboring countries.
Bordering Iran to the south, Afghanistan to the south and east, and Kazakhstan and Uzbekistan to the north, Turkmenistan is rich in oil and gas resources. Its natural gas reserves are estimated at 20 trillion cubic meters and oil reserves at 12 billion barrels.
Highlights from the Asian Development Outlook 2013:
Growth remained robust at 11.1%, led by strong gas exports and high public spending on infrastructure, with rising imports limiting the current account surplus to 1.5% of GDP. Even higher oil and gas production and exports are expected in 2013 and 2014, providing continued funding for the large public sector. However, growth is forecast to moderate to 9% in 2013 and 8% in 2014. Read more.