Kazakhstan, US agree on Central Asia regional energy market creation
Baku. On November 21, 2019, Kazakhstan and US signed a memorandum of understanding, which will help create Central Asia Regional Energy Market (CAREM), thus making an important step in strengthening energy cooperation, Trend reports with reference to the press office of US embassy in Kazakhstan.
The memorandum was signed by Deputy Assistant Administrator for USAID for Asia Javier Piedra and Vice Minister of Energy Sungat Esimkhanov.
According to Piedra, integrated CAREM will not only save money but also increase energy safety and economic stability; this will simplify commercial trade and will attract investments into energy sector of all five Central Asia’s countries and neighboring countries of South Asia.
USAID enhances regional economic connectivity among countries in Central Asia, including Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan, while building linkages with the United States, Afghanistan, and beyond.
USAID's efforts in Central Asia are focused in three main sectors which are foundational for regional economic growth including implementation of key regional connectivity initiative, the Central Asia Regional Energy Market (CAREM), which seeks to increase energy sector cooperation throughout Central Asia.