Infrastructure

Home page

Infrastructure

European Commission hosts the TRACECA Investment Forum 2012

29 February 2012 10:29 (UTC +04:00)

Baku. Victoria Dementyeva - APA-Economics. The European Commission today hosted the TRACECA Investment Forum 2012 aimed at attracting investments into transport infrastructure between the EU and Central Asia.

Highlighting the benefits of a more robust transport system, Å tefan FÃ¼le, European Commissioner for Enlargement and European Neighbourhood Policy said: "An efficient transport system is the backbone of effective regional integration. Our Eastern neighbours, who link the Black and the Caspian Seas to China and beyond, could benefit from stronger transport infrastructure and services, in order to help them reach their full potential in their economic and trade relations with the EU."

Up to now, the EU has supported this programme with technical assistance of almost â‚¬170 million for 80 projects, which, since 2004, have mostly been focused on areas such as improving transport safety and security, as well as implementing the changes in legislation needed to improve trade in the region. To further support infrastructure development and help attract investment from public and private sector sources, the first TRACECA Investment Forum was held in Brussels in October 2010. At the Forum, five road rehabilitation projects, four railway construction projects and three port projects were presented to potential investors.

TRACECA (Transport Corridor Europe-Caucasus-Asia) is an international transport cooperation programme between the EU and its Partner countries in Eastern Europe, South Caucasus and Central Asia. It has a permanent Secretariat in Baku, Azerbaijan. The cooperation framework covers the areas of maritime transport, aviation, road and rail, transport security, and transport infrastructure.