The Ashgabat Agreement is a transport agreement signed between several member countries. The agreement is named after the capital city of Turkmenistan, where the agreement was signed in April 2011. It aims to create a transit and transport corridor that facilitates trade between Central Asia and the Persian Gulf.
The member countries include Turkmenistan, Iran, Oman, Uzbekistan, and Kazakhstan. The agreement was later extended to include Afghanistan and India. The agreement has been in operation since 2016, and it has greatly facilitated the transportation of goods between the member countries.
The primary objective of the Ashgabat Agreement is to promote regional connectivity between the member countries by simplifying customs procedures and reducing transit costs. It is expected to provide a cheaper and faster alternative to the existing routes used for transporting goods between Central Asia and the Persian Gulf.
The agreement has a number of benefits for the member countries. For instance, it provides access to new markets, reduces transportation times, and lowers costs, which makes it easier for businesses to trade. Additionally, it provides an opportunity for the member countries to cooperate and strengthen their political and economic ties.
The Ashgabat Agreement has already started to bear fruit. In 2020, the agreement facilitated the transportation of over 2.5 million tons of goods between the member countries. The agreement has also helped create jobs and boost economic growth in the region.
However, there are still some challenges that need to be addressed. One of the major challenges is improving infrastructure such as roads and railways in the member countries. This is necessary to ensure that the transportation of goods is efficient and cost-effective.
Overall, the Ashgabat Agreement is a significant milestone in promoting regional connectivity and trade. The agreement is expected to have a positive impact on the economies of the member countries and contribute to their overall development. As the agreement continues to be implemented, it is hoped that it will lead to greater cooperation and integration among the member states.