TRACECA member states ministers to meet in Astana

TRACECA National Secretariat in Azerbaijan told APA-Economics that Russia's and Belarus' ministers are also expected to attend the meeting.

The event is aimed to discuss efficiency of TRACECA and attract Russia and Belarus to this system. The meeting will be held in accordance with the Baku Initiative adopted in 2004.

The aim of the Baku Initiative is enhancing integration of the energy markets of participating countries with the EU energy market to create predictable and transparent energy markets, capable of stimulating investments as well as security of energy supply. The objectives of initiative are harmonization of the legal and technical standards with the aim to create a functioning integrated energy market in accordance with EU and International legal and regulatory framework; increase of the safety and security of energy supplies by extending and modernizing the existing infrastructure, substituting the old and dangerous power generation infrastructures with environmentally-friendly power generation infrastructures, developing of new infrastructures and implementing a modern monitoring system of their operation; improvement of energy supply and demand management through the integration of efficient and sustainable energy systems; and promoting of the financing of commercially and environmentally viable energy projects of common interest.