Following a panel session at the Tashkent International Investment Forum, Turkmenistan has become a member of the Regional Alliance of Investment Councils (RAIC), which brings together eight countries from Central Asia and the South Caucasus. This was reported by the online publication “Business Turkmenistan”.

The newly established alliance includes Armenia, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, as well as representatives of the South Caucasus countries.

The primary objective of the RAIC is to coordinate investment policies and promote the development of cross-border projects. According to Aziz Gafurov, Head of the Secretariat of the Council of Foreign Investors under the President of Uzbekistan, the investment agenda in Central Asia is becoming increasingly regional and interstate in nature.

The initiative is being implemented with the support of the Asian Development Bank (ADB) and the European Bank for Reconstruction and Development (EBRD). The alliance's secretariat is expected to be based in Uzbekistan.