Central Asian States Sign Energy Declaration

Central Asian countries such as Tajikistan (pictured above) pledged to create a regional energy market. (Flickr)

Nine countries in the Central Asia Regional Economic Cooperation Program (CAREC) signed a declaration in Tashkent, Uzbekistan, on September 20 pledging the creation of a regional energy market. According to the Times of Central Asia, this declaration marks the first time that Central Asian leaders have jointly addressed regional energy challenges.

Diwakar Gupta, an Asian Development Bank (ADB) vice president, commented on the leaders’ historic move. “Today, they have strengthened their commitment to work together to deliver an electricity supply for the region that is reliable and affordable, develop modern energy markets, and embrace clean energy as a more efficient, sustainable source of power,” he said, according to the ADB.

According to China’s state-owned Xinhua News Agency, the conference takes place as dangerous power shortages menace the region. The uneven administration of CAREC countries’ ample natural resources threatens to slow down Central Asia’s recent exponential economic growth.

The Times of Central Asia notes that CAREC has financed 196 energy and trade projects since 2001 to help create a sustainable energy market. Poor resource administration coupled with fast-growing economies and a lack of utilities now generates severe energy challenges.

The declaration not only encourages a significant increase in private investment but also pledges a stable supply of power and greater transit opportunities for natural resources through Turkey and Georgia, deepening regional alliances.

“I am deeply impressed by the CAREC countries’ strong commitments to reforms, which is the only way towards a more reliable, affordable, modern, and sustainable energy future,” said ADB Director General for Central and West Asia Werner Liepach, according to the ADB.