During the 3rd meeting of the Mejlis, held on Saturday, a number of laws were considered and adopted, including the “Law on Turkmenistan’s accession to the Basic Multilateral Agreement on International Transport for the Development of the Europe-Caucasus-Asia Corridor (TRACECA)”.

Turkmenistan's accession to TRACECA (Transport Corridor Europe-Caucasus-Asia) is aimed at developing the country's transport sector, as well as promoting the development of interregional economies.

As newscentralasia.net reports, the Basic Multilateral Agreement on International Transport for the development of the Europe-Caucasus-Asia corridor was signed at the summit in Baku on September 8, 1998 by 12 TRACECA countries. The agreement came into force on March 16, 2000.

The objectives of the Agreement are as follows:

• development of economic relations, trade and transport links in the regions of Europe, the Black Sea, the Caucasus, the Caspian Sea and Asia;
• facilitating access to the international market for road, air and rail transport, as well as merchant shipping;
• facilitating the international transportation of goods, passengers and international transportation of hydrocarbon products;
• ensuring traffic safety, cargo safety and environmental protection;
• harmonization of transport policy, as well as legal frameworks in the field of transport;
• creating equal conditions for competition between individual modes of transport.