Connect with us

Asia

‘There will be no security and peace in Central Asia, without peace and security in Afghanistan’

Published

on

Khusrav Noziri, Secretary General of the Economic Cooperation Organisation (ECO), told Harici: “Afghanistan is not only the security concern for Tajikistan but for the whole region, for the whole Central Asia because the Central Asian countries consider the security of Afghanistan as the security of the Central Asia.”

Established in 1985 with Turkey, Pakistan, Iran, Afghanistan, Azerbaijan, Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan and Turkmenistan as members, and the Turkish Republic of Northern Cyprus (TRNC) as an observer, ECO is an economically-oriented regional organisation with a population of some 450 million.

Established with the aim of developing regional economic cooperation, ECO enables the implementation of regional cooperation projects in the fields of trade, transport, agriculture, energy, environment, health, industry, finance and economy.

Khusrav Noziri, who has been Secretary General of ECO since 2021, has held senior positions such as Deputy Minister of Foreign Affairs in Tajikistan, as well as diplomatic posts in many countries, including Tajikistan’s embassies in Egypt, the Republic of South Africa and China. In 2021, he was awarded the “20th Anniversary of the Shanghai Cooperation Organisation” medal for his contribution to the establishment and development of the Shanghai Cooperation Organisation (SCO).

Ambassador Khusrav Noziri, Secretary General of ECO, answered our questions about the organisation’s goals, upcoming projects and trade cooperation in Central Asia.

The fact that the Middle Corridor continues to move forward despite obstacles is seen as a symbol of the South Caucasus-Central Asia region’s desire for political and economic autonomy. How do you assess the approach of major powers such as China and Russia to this issue?

Middle Corridor is one of the major corridors in the territory of the Economic Cooperation Organization (ECO) and as you know, we have established the Coordination Committee between ECO and United Nations Economic Committee for Europe (UNEC). In this framework, we are discussing how to better implement this project and realization of this corridor. This corridor is of high importance for our region because from the East, it connects our region to China, one of the most important countries in the world, and also, from the West to Europe. And this issue was also raised in Antalya Diplomacy Forum; it was highlighted that due to some events happening in the eastern part of Europe, the northern corridor has some difficulties. So now, we focus on how to better use of the potential which the Middle Corridor possesses, which cross through the ECO region.

Despite Western pressure, the Economic Cooperation Organization refuses to join the sanctions targeting Russia. How do you assess Washington’s measures on secondary sanctions?

As ECO, we agreed among the member states, not to raise political issues and focus only on the issues of economic cooperation and integration among ten member states.  But of course, it is sovereign right of every member state what to decide and whether to implement sanction or not. But what we are doing in our organization is that we have a target set, goals set in trade and transport, connectivity, energy, environment etc. We are now, according to our basic strategic document which is Vision 2025, implementing our projects, in all our priority areas. But, of course, we understand that these sanctions which are enforced against one of our key member states, of course, has negative consequences on our agenda of regional economic cooperation. We understand it. But, nevertheless, we are trying our best to overcome these difficulties and move towards closer cooperation economically and for closer integration in all our priority areas.

Can you give us some details about the remarkable goals which take place in your strategy document, Vision 2025?

According to our basic strategy document which is Vision 2025, we set a target to double our intra-regional trade. If we compare the level of our cooperation in the area of trade, we can see that the amount of our regional trade which is now 9% of from our global trade is much less if we compare with the similar level from other regional economic blocks and organizations. So, that’s why we set the target to double our intra-regional trade. We have two tracks on this. The first is to increase the share of contribution of our organization to the global trade. In 2022, for the first time we, as ECO members, crossed the mark of 1 trillion USD which is about 4% of the global trade. We want to increase our share and our contribution to the global trade. Secondly, we also simultaneously set a target to increase our intra-regional trade, the trade which we have inside the region among the member states. Because if we analyze the trade we can see that many items and commodities could be imported from within the ECO, instead of importing them from outside the block. So, in this regard, we have a huge potential. The second priority area is on transport and communication. In transport and communication, we have many success stories and we already discussed Trans-Caspian Middle Corridor. And also, we have again reactivated the corridor which is called ITI (Islamabad-Tehran-Istanbul) which starts from Islamabad and goes through Tehran and ends in Istanbul. If we compare it with the relevant sea corridor, it will be less expensive and time saving. Now, we are discussing with the Bulgarian companies to extend this corridor to Bulgaria which will eventually connect the South Asia by railway for the first time to Europe. So, it’s another major corridor in our region. Also, we are in the last ministerial meeting on transport which was held in Tashkent last year, we initiated two new corridors, multimodal corridors, which are called TUTIT and KUTIT. TUTIT is abbreviation for Tajikistan, Uzbekistan, Turkmenistan, Iran and Türkiye. KUTIT is for Kyrgyzstan, Uzbekistan, Turkmenistan, Iran and Türkiye. Both are plus China. These two corridors are multimodal corridors. In last September, we had the first meeting of the working group in Dushanbe and now we are discussing when we should have a test-run alongside the TUTIT multimodal corridor. 

Another project it is KTI which is Kazakhstan, Turkmenistan and Iran. During the summit which we held in Ashkabad, we agreed to commercialize this transport corridor. One of our targets in the area of transport and communication is to make our transport corridors economic and trade corridors and thus commercialize them. Also, we are developing our cooperation in the area of transport in the maritime cooperation because we have Caspian Sea and Persian Gulf in the south, these are important sea ports. Also, Gwadar sea port in Pakistan and also the important sea ports in Türkiye will be included in the project. Three of our countries in organization have access to the sea but the majority of them, remaining seven member states are landlocked countries. And in this regard, the issues related to increasing the potential of landlock countries and providing them the access to the sea through this echo-gates, is of great importance. 

Also, we have a good cooperation in the aviation sphere. In the last ministerial meeting on transport, we decided to grant ECO the status of a hub to Gabala of Azerbaijan and Samarkand of Uzbekistan. This status, which also we hope that, will increase the potential of landlock countries in attracting the business, investments and etc. 

Other top priority areas are energy and environment. On energy, I would like to say that we have two flagship important projects. The first one is the establishment of ECO Clean Energy Center in Baku. This is a joint project which is implemented together with United Nations Industrial Development Organization (UNIDO) and the initial phase of the establishment has been completed. Now, we are moving towards the implementation of the next stages of this project. We hope that during the next Conference on Parties 29 (COP29), which will be hosted by Azerbaijan, which is one of our important member states, we will succeed in inauguration of the ECO Clean Energy Center in Baku.

Another flagship program in energy sector is ECO-RAM. It’s a regional electricity market, now it’s at pilot stage. In this project, Türkiye and Iran, as neighboring countries are participating, with the potential involvement of Azerbaijan. But we think that this project has a prospect to be expanded because in our region, we have other countries which are rich in the natural resources and the production of electricity. Some of them are based on the fossils and some of them are based on electricity like Tajikistan and Kyrgyzstan. This cooperation is promising. 

Another area is environment. During the last COP in Dubai, we had the ministerial meeting on environment. In this meeting, we decided to have the first meeting of the high-level dialogue platform on environment cooperation in Samarkand, Uzbekistan. It’s a newly established mechanism in our organization.

The next priority area is tourism. Now, we are developing the concept of the tourism capitals of ECO. Now, we have six cities in this project. One of them is Erzurum of Türkiye. Next year, Erzurum will be announced as the tourism capital of ECO. In this regard, we are planning to convene major events in Erzurum. After Erzurum, it will be the turn of the Shusa. 

Last year, China organised a quintet summit in Xian that brought Central Asian countries together. How would you interpret China’s growing role in the region?

We understand that China plays a growing role in the ECO member states. That’s why ECO is interested in developing, strengthening and expanding relations with China. As you know, some significant number of ECO member states are the neighbors of China. Starting from Kazakhstan, Kirgizstan, Tajikistan and Pakistan are direct neighbors of China. ECO member states have significant and big projects, infrastructural projects etc. with China, which we consider that eventually could benefit ECO as well for increasing our economic cooperation and integration. So, China, for us, is an important trade partner, economic partner, investment partner. 

Some countries are pro-Chinese investments and some countries are feeling worried regarding the Chinese economic growth and being bounded to Belt and Road initiative and debts caused by that. What is the ECO’s position? 

If you look at the reality on the ground, I think all member states are welcoming the growing Chinese investments in their economies. We can see it on the ground in the forms of realization of the grand projects and different various areas.

You are not giving this interview on behalf of Tajikistan but if you allow me, I have some questions about your home country as well. We don’t know much about Tajikistan. We cannot speak much with Tajik politicians. It’s very hard to catch them and talk to them. We would like to know more about foreign policy of Tajikistan as according to the Tajikistan constitution it stressed upon a peaceful policy. What is that criteria and how it goes with the regional countries and beyond?

As Secretary General of Economic Cooperation Organization, of course, I cannot talk on behalf of Tajikistan, but I can say that Tajikistan is a very important and active member of our organization. Tajikistan hosted the summit of the organization, the Council of Ministers of the Organization several times. As you know, the Council is the highest decision and policymaking body in our organization. Tajikistan also participates in implementation of different regional projects in our organization. We value the participation of Tajikstan. In Antalya Diplomacy Forum, we once again met with the Foreign Minister of Tajikistan, Sirojiddin Muhriddin and had an exchange of views on the areas of cooperation and strengthening the role of Tajikistan and the activities.

Apparently, Tajikistan has a big issue with two of its neighbors and that’s are Kyrgyzstan and Afghanistan. What steps has been taken to normalize its ties or if there is any chance for improving of ties between those countries?

Again, I cannot speak on behalf of Tajikistan but what I know is that: Both Tajikistan and Kyrgyzstan are our members. We welcome the negotiation process which is going on between Tajikistan and Kyrgyzstan. We heard about the positive developments and the big area of the joint border between Kyrgyzstan and Tajikistan. I think, the delegations agreed on how to demarcate this border. There are positive steps and positive development in this area. Afghanistan also is the member state of ECO. Afghanistan is very important especially in terms of the transport and especially in the terms of energy because we have projects with regard to Afghanistan but because of this current situation and de-facto rulers in Afghanistan, many of our projects are now on-hold. But, we have special program for Afghanistan.

Can we say that this is also one of the biggest security concerns of Tajikistan, too? 

Afghanistan is not only the security concern for Tajikistan but for the whole region, for the whole Central Asia because the Central Asian countries consider the security of Afghanistan as the security of the Central Asia. It was stated several times by Central Asian leaders that there will be no security and peace, without peace and security in Afghanistan.

Do you refer to Afghanistan as a country or do you refer to this threat regarding the de-facto rule of Taliban?

I refer to Afghanistan as a country because this situation not started two years ago. It continues already more than 40 years. So, I’m referring to the country. Afghanistan is an important member of our organization but due to this this current situation, Afghanistan regrettably cannot officially attend in our meetings.

The US and China are interested in investing in Tajikistan. Which of them have invested more in Tajikistan and in which areas?

[Laughter] For the countries receiving investments, I think, there is not big difference in who is investing as long as the money flows. I think the countries are interested to increase these investments and increase the number of countries who are coming with the investment. So, I believe, this is a policy of Tajikistan as well.

Looking on the ground, which country is investing more?

According to the statistics which we have, of course, China is the major investor not only in Tajikistan but in all Central Asian countries and in Iran as well and in Pakistan as well. 

Is there anything that I didn’t ask you but you want to tell us?

There is one more priority area which I haven’t mentioned. It is human resources and sustainable development. In this regard, this year we are going to convene the first Forum on Sustainable Development in Arkadak, Turkmenistan, which is the new modern smart city. This year is of the chairmanship of Iran. Iran came with the theme of enhanced and resilient ECO region through intra-regional trade. Again, coming back the intra-regional trade is a top priority for our region. With this regard, we are taking necessary measures for our organization. We negotiated on The Economic Cooperation Organization Trade Agreement (ECOTA) and signed and ratified by five member states, which is the minimum for entering into force. But regrettably, this agreement remains non-operational due to the divergence in opinion among the parties on the articles related to the reduction of the tariffs. But, it is not the end of the story but we are now exploring other ways how to facilitate the trade in particular. There are draft trade facilitation strategy and draft trade facilitation agreement. 

Asia

Pentagon plans covert spy ring for economic war on China, report says

Published

on

The US Department of War (Pentagon) is reportedly planning to establish an extensive network of deep-cover agents to wage economic warfare against China and other adversaries of the US.

According to a report by The Washington Post citing six sources familiar with the initiative, the plan has not yet been put into effect. The newspaper reported that the initiative remains at the planning stage. The Pentagon, however, denies that any such initiative exists.

The report said the operatives would pose as entrepreneurs or private sector employees while concealing their ties to the US government. The network’s mission would be to gather economic intelligence and counter China.

The programme is led by Tom Rakusa, who spent 39 years at the CIA. Rakusa serves as a senior adviser to Deputy Secretary of Defence Steve Feinberg.

The proposed spy network is seen as part of a broader policy by the Donald Trump administration to sharpen economic competition with other countries.

The US is already resorting to tariffs, export controls, and investment in strategic sectors, alongside expanding its economic intelligence gathering.

According to The Washington Post, the new initiative demonstrates the Pentagon’s growing influence under the Trump administration. The department is currently seeking a record budget of $1.5 trillion.

Trade war flares up again with Trump’s return to the White House

The trade friction between the US and China flared up again following Donald Trump’s return to the White House. In April 2025, Washington raised tariffs on Chinese goods to as much as 145%, and Beijing retaliated with tariffs of up to 125%.

In May, US Secretary of State Marco Rubio described China as the primary geopolitical challenge facing Washington. Rubio said that to avoid war, the two sides needed to manage their conflict of interests.

In July, Chinese expert Zheng Yongnian did not simply warn that underestimating the US could prove to be a “fatal mistake”; he stated it explicitly.

According to Zheng’s assessment, the US maintains its primacy through the role of the dollar, its military superiority, and its technological advantages.

Even so, the two sides agreed in June to declare a truce and lower tariffs. In autumn 2026, the US and China extended their trade truce until 10 January 2027.

US Treasury Secretary Scott Bessent said the extension would give the parties more time to discuss economic issues.

Trade deals do not eliminate the strategic contradictions between the two countries. Financial Times columnist Rana Foroohar likened the race between the two nations for commercial, technological, and geopolitical influence to the 19th-century “Great Game” between the Russian and British empires.

Foroohar cited China’s standing in shipbuilding and commercial maritime transport, as well as its expanding footprint in overseas ports, among its key advantages.

Continue Reading

Asia

Japan plans curbs on short-term home sales to cool urban prices

Published

on

Japan’s ruling Liberal Democratic Party (LDP) plans to restrict short-term property trading to rein in surging home prices in major urban centres, particularly Tokyo.

Led by Prime Minister Sanae Takaichi, the party aims to make support for working households a core priority ahead of local elections scheduled for April next year.

The LDP’s research commission on housing and land policy met on Wednesday to discuss the issue.

According to a report by the Nikkei Asia newspaper, Commission Chair and LDP lawmaker Midori Matsushima said at the opening of the meeting: “Prices of newly built condominiums across Tokyo’s 23 wards have doubled over the past decade. We must work on measures ensuring that people who wish to live in these homes can actually afford to buy them.”

Homeownership in the capital has become virtually unattainable for broad segments of the population. According to data from the Real Estate Economic Institute, the average sale price of a newly built condominium in Tokyo’s 23 wards rose %18.5 in fiscal 2025 compared with the previous year, reaching 137.84 million yen (around $872,000).

Meanwhile, statistics from the Ministry of Labour show that the average annual income of a full-time worker in the capital remained at 6.78 million yen in fiscal 2025. This widening gap between incomes and residential property prices is directly shaping political priorities.

During its campaign for the House of Representatives election in February, the LDP pledged to curb speculative transactions across metropolitan Tokyo and other regions. Earlier this month, a party project team focused on policies concerning foreign nationals also submitted a recommendation urging the government to introduce immediate tax measures against rising home prices.

Under current legislation, profits realized from properties sold within five years of acquisition are classified as “short-term capital gains”. These returns face a tax rate approaching %40, including income tax and local inhabitant tax.

Although this rate is twice the approximately %20 levied as “long-term capital gains” tax on properties held for more than five years, several party members argue it remains insufficient to deter speculation. Calls to tighten the framework may be considered as part of the annual tax reform package to be drafted in December alongside the LDP’s coalition partner, the Japan Innovation Party.

The ruling bloc wants to present concrete housing pledges to voters heading to the polls in April across numerous urban centres, including 22 of Tokyo’s wards where local assembly terms expire.

“We need to support families with children, who are typically at the stage of purchasing a home,” a senior LDP official said.

Opposition parties are also preparing alternative proposals that target not only prospective homebuyers, but also residents forced into the rental market by high property prices and now affected by escalating rents.

Tax steps take precedence over limits on foreign buyers

Several countries seeking answers to housing affordability pressures have imposed direct restrictions on foreign purchasers. In South Korea, real estate policies played a major part in the declining public approval ratings of President Lee Jae Myung.

In August 2025, authorities in Seoul introduced an approval requirement for foreign nationals buying homes in the capital and adjacent areas, while also mandating that buyers reside in the properties for at least two years.

Canada and Australia have enacted temporary bans on foreign residential purchases, while Singapore levies a %60 additional stamp duty on foreign buyers.

The role of overseas investors in Japan’s property market also drew debate during the February election. However, restrictions aimed directly at foreign nationals are viewed as potentially conflicting with international trade and services agreements.

Consequently, rather than imposing restrictions based on the nationality of buyers, the government is discussing tax measures aimed at speculative real estate deals, such as rapid resales.

Fears that sharp market measures could shake regional banks

Concerns have also surfaced that aggressive steps to force down prices could harm the wider national economy.

A senior LDP tax official cautioned that a steep drop in land prices could weaken local financial institutions, warning: “We must consider the impact on regional banks.”

The real estate sector accounts for roughly %18 of total lending by Japanese banks. This proportion sits well above the %10 level recorded during Japan’s bubble economy of the mid-to-late 1980s.

At certain regional banks, property lending accounts for nearly half of total loan portfolios.

According to March 2025 data from the Financial Services Agency, approximately one-quarter of all loans extended by regional banks to the real estate sector are concentrated directly in Tokyo’s five central wards.

Buoyant asset valuations, supported in part by rising stock indices, have underpinned strong public approval for the Takaichi administration. Observers note that property interventions designed to cool the market could drag down equity prices and weaken the government’s standing.

A senior official on the LDP research commission stressed that decision-makers must act with caution regarding the scope and timing of any measures intended to bring price increases under control.

Continue Reading

Asia

South Korea plans $120B spend on eight US nuclear power plants

Published

on

South Korea will spend $120 billion to construct eight nuclear power plants in the US under an agreement that provides for $350 billion in investments in exchange for lower tariffs.

The South Korean government also announced that Seoul and Washington will begin examining a liquefied natural gas (LNG) project in Alaska comprising a large-scale pipeline to transport natural gas from the north of the state to the south, alongside the construction of an LNG terminal for exports overseas.

Seoul stated that a decision regarding the LNG project will be made following a commercial feasibility study. However, US President Donald Trump said that South Korea would invest $54 billion in the project, pointing to an apparent lack of full coordination between the two sides on the matter.

Trade and Industry Minister Kim Jung-kwan said in a statement: “This announcement opens a new horizon of cooperation where the two countries join forces to develop joint commercial ventures in strategic areas directly linked to economic security and future sectors such as artificial intelligence, nuclear energy, and LNG.”

“We will adhere to the principle of prioritising national interests and investing solely in commercially viable projects,” Kim said.

Speaking at the White House, Trump characterised South Korea’s plans as “one of the largest energy infrastructure investments in American history”.

The announcement followed a meeting between Trump and South Korean President Lee Jae Myung roughly one year ago at the APEC Economic Leaders’ Meeting held in South Korea, where they agreed on the creation of a $350 billion investment fund.

Under that agreement, $150 billion was allocated to the shipbuilding sector and $200 billion to other sectors. In return, the US announced it would reduce tariffs imposed on goods imported from South Korea from 25% to 15%.

Under the nuclear power project, South Korea’s state-controlled utility will build two plants in the US, while Pennsylvania-based Westinghouse Electric will construct six plants.

According to the South Korean government, this will mark the first instance in which a foreign country builds its own nuclear power plants in the US.

South Korean firms are also evaluating the possibility of acquiring a stake in Westinghouse as part of negotiations over sharing profits generated by the project.

South Korea additionally announced that it will build a $22.3 billion natural gas-fired power plant in Texas with a capacity of 6,472 megawatts.

The facility will be designed to supply electricity directly to nearby data centres. The project’s first phase is targeted to begin commercial operations in 2029, with full-capacity operations slated for 2032.

Seoul also disclosed that it had agreed to allow the US to receive 50% of the profits generated by the projects until South Korea recoups all of its investments.

After South Korea fully recovers its total investment amount, 90% of the profits will go to the US.

Continue Reading

MOST READ

Turkey