The EU is investing in Central Asia for the long term

© RIA Novosti / Alexei Vitvitskiy fotobanka in the EU. Archival photo<img src="/wp-content/uploads/sites/5/2018/09/9bcb624880fc5a3a02a230c7adaefe27.jpg" alt="The EU is investing in Central Asia for the long term” />© RIA Novosti / Alexei Vitvitskiy the image Bank

The EU believes in development perspectives of the Central Asia and intends to invest in this region for the long term, said the head of the European external action service for Russia, Eastern partnership and Central Asia Luke Devine.

Last week the European Commission published the EU strategy for the development of the pairing of Europe and Asia, proposing initiatives to strengthen ties between the regions using compatible transport, energy and digital networks. The strategy States that in the coming decades Asia will need more than 1.3 trillion euros a year in infrastructure investment to maintain current growth rates and adaptation to climate change.

«We believe in the long term in the region,» said Devine at the round table at the European Institute of Asian studies on the reforms in Uzbekistan and cooperation in Central Asia.

He added that the EU invests in the region «for the long term».

«You know that we negotiated the agreement on extended partnership and cooperation with Kazakhstan in 2015, we are working with Kyrgyzstan and Azerbaijan, and we are very happy that soon will start talks with Uzbekistan», — listed Devine.

According to him, the EU operates on the basis of «the goals of sustainability in terms of environmental and fiscal policy,» because he wants to see is not «overly burdened with debt», and «to see social stability, international standards and transparent procedures».

He also said that the EU would like to support the development of the region, «the obvious way for stability, because, let’s be honest, is to have a new market». «We are increasing investment in the region through our assistance, we want to develop the pair not only through infrastructure projects but also through the rules, using people to the region could use, for example, this (educational) program as Erasmus», he added.

According to the developed strategy, the EU intends to develop relations with Asia through priority transport corridors, energy cooperation and digital networks, partnerships based on agreed rules and standards to better manage the flow of goods, capital and services, as well as through improving the efficiency of use of financial resources for investment.