Akif Mustafayev, Azerbaijan’s national coordinator in TRACECA, said that currently besides proposals concerning creation of the Fund, it is also considered the issue on the public-private partnership, abc.az reported.

“We are implementing a complex work. Though the member states have not expressed their exact positions, the issue on the Investment Fund and public-private partnership will be considered at the TRACECA Intergovernmental Commission’s VII Meeting to be held in the first half of 2009 in Bishkek (Kyrgyzstan),” Mustafayev emphasized.

For its approval the project should supported by all the 12 TRACECA member countries.

The TRACECA Multilateral Agreement was signed in Baku in 1998 and composes Azerbaijan, Turkey, Georgia, Ukraine, Moldova, Romania, Bulgaria, Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, Turkmenistan and Armenia. Since then cargo flow via TRACECA route has doubled and its further growth is expected in connection with Trans-Caspian supplies of Kazakh oil.