Riyadh, Dushanbe to Implement Investment Projects in Energy, Industry and Mining Sectors

Tajik Investment Minister Sultan Rahimzadeh.
Tajik Investment Minister Sultan Rahimzadeh.
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Riyadh, Dushanbe to Implement Investment Projects in Energy, Industry and Mining Sectors

Tajik Investment Minister Sultan Rahimzadeh.
Tajik Investment Minister Sultan Rahimzadeh.

Tajik Investment Minister Sultan Rahimzadeh revealed ongoing efforts with Saudi Arabia to find mechanisms for implementing investment projects in the energy, industry and mining sectors in Tajikistan. He pointed to the signing of 14 agreements and memorandums of cooperation in the fields of economy, investment, science, education, air transport, youth, sports, security and combating crime.

Speaking to Asharq Al-Awsat from Riyadh, Rahimzadeh said: “There are currently 12 draft new agreements and MoUs for cooperation between the two countries that are ready to be signed. Moreover, 15 draft bilateral agreements are also being studied and are expected to be signed during the upcoming official visit of the Tajik President to the Kingdom.”

The minister noted that a Saudi-Tajik agreement on the encouragement and mutual protection of investments was an important legal basis for attracting Saudi investors to Tajikistan and protecting their rights and interests.

He stressed that his country was ready to engage in separate investment protection agreements with private sector companies, with the aim to invest in priority sectors.

He continued: “Saudi Arabia contributes to the implementation of infrastructure development projects in Tajikistan, through the Islamic Development Bank, the Saudi Fund for Development, and other international financial institutions, as the volume of Saudi Development Fund financing for development and infrastructure projects in the country reached about USD 270 million, based on soft loans.”

Close ties

Rahimzadeh emphasized the strong religious, cultural and historical ties that connect Saudi Arabia and Tajikistan and that go back centuries.

“Thanks to the political will of the leadership of the two countries, relations were strengthened and reached the highest level. We are currently working to raise the level of economic, trade and investment cooperation in implementation of the directives of the two leaderships,” he stated.

The minister stressed the importance of the joint governmental committee which he co-chairs with Saudi Minister of Investment Eng. Khaled Al-Falih.

Rahimzadeh added that the Tajik-Saudi Investment Forum, which was held for the first time in the city of Dushanbe in December 2022 on the sidelines of joint committee meetings, witnessed the signing of agreements to boost public-private sector partnerships in the field of bilateral investment.

“We are excited to align the activities of the Joint Committee for the Strategic Economic and Trade Partnership with the strategic goals of the national development of our two countries for the year 2030. We look forward to activating the works of the Joint Business Council, and holding periodic economic and investment forums for agricultural and industrial products,” he told Asharq Al-Awsat.

He pointed out that the volume of trade exchange was not proportionate to the extent of the capabilities and opportunities existing on both sides, which calls for raising the level of trade and removing obstacles and logistical problems.

The minister underlined his government’s efforts to encourage the Saudi public and private sectors to invest in Tajikistan’s projects in the sectors of renewable energy, mining, industry and agriculture, to ensure sustainable economic development.

“Developing cooperation in the field of tourism is beneficial to both sides,” he said, adding that the government exempted Saudis from entry visas, starting in early 2022, while the Tajik national carrier, Somon Air, launched in March 2023 direct flights between Dushanbe and Jeddah to bolster bilateral economic, commercial and tourism cooperation.

Gulf-Asian investment

Rahimzadeh said Riyadh hosted on May 29 the Investment Forum for the Gulf Cooperation Council (GCC) and Central Asian countries, within the framework of the Joint Action Plan for Strategic Dialogue and Cooperation between the two sides for the period 2023-2027.

“The outcomes of the forum will serve as a roadmap to activate economic, trade and investment cooperation between the two sides,” he remarked.

Regarding joint work between Tajikistan and the Gulf and Central Asian countries, between 2023 and 2027, Rahimzadeh said that strengthening multifaceted relations with GCC member states was one of the important directions of his country’s foreign policy.

He added: “We are ready to boost mutually beneficial cooperation in various fields of economy, trade, investment, culture and areas of common interest, within the framework of the joint action plan for the Gulf States and Central Asia for the years 2023-2027.”

Investment opportunities

Rahimzadeh stressed that his country has great potential in the field of hydroelectric energy, pointing to the building a number of stations with different capacities and developing the “green energy” sector in a comprehensive manner. He also referred to the establishment of joint projects to manufacture environmentally friendly agricultural products for export to Gulf markets.

He said his country has developed and modernized laws on investments, agreements, free economic zones, and public-private partnerships, taking into account the best practices in the field of law enforcement.

He revealed that in the countries of Central Asia, only Tajikistan had an investment agreement law, according to which the investor has the right to obtain additional incentives and privileges.

Rahimzadeh said: “We have introduced a complete tax exemption system, with the exception of social tax, income tax, and customs duties. Our free economic zones constitute a business platform ready to implement various projects and we are gradually getting closer to supporting the comprehensive business infrastructure.”

He added: “The government has also identified private sector development, entrepreneurship and investment in the national development strategy for the period up to 2030, as the main means of achieving national goals, and is constantly taking the necessary measures to create favorable conditions for business and investment activities.”

‘Green economy’ by 2037

Rahimzadeh stressed that his country will become a “green economy” by 2037, noted that among the strategic goals is the accelerated industrialization of the country, which will contribute to promoting sustainable development and creating job opportunities.

The minister also highlighted his country’s competitive advantages, such as transportation capabilities and the availability of a trained and relatively inexpensive workforce, with broad potential for tourism development.

He stressed that the government of Tajikistan attaches exceptional importance to continuing the process of institutional reforms to create a more favorable investment climate and improve the business environment.



Iraq in Talks with Gulf States on Pipeline Exports beyond Hormuz

Workers carry out maintenance on a pipeline at a gas separation station in the Zubair oil field near Basra (AP). 
Workers carry out maintenance on a pipeline at a gas separation station in the Zubair oil field near Basra (AP). 
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Iraq in Talks with Gulf States on Pipeline Exports beyond Hormuz

Workers carry out maintenance on a pipeline at a gas separation station in the Zubair oil field near Basra (AP). 
Workers carry out maintenance on a pipeline at a gas separation station in the Zubair oil field near Basra (AP). 

Iraq is in talks with Gulf countries to use their pipeline networks to secure alternative oil export routes beyond the Strait of Hormuz, the state oil marketer SOMO said Thursday.

The move is part of an emergency strategy by the oil ministry to tap regional infrastructure and bypass maritime chokepoints, ensuring Iraqi crude continues to reach global markets while offsetting higher transport costs linked to the current crisis.

Ali Nizar al-Shatari, head of the State Organization for Marketing of Oil (SOMO), said the ministry is prioritizing negotiations to access Gulf pipeline systems extending beyond the Strait of Hormuz and into the Arabian Sea, allowing exports to avoid areas of military tension.

“The goal is to secure stable routes that guarantee efficient flows of Iraqi oil at lower transport costs,” Shatari said, adding that Iraq generated about $2 billion in oil revenues in March, up 28 percent from February.

He said SOMO exported around 18 million barrels of crude from Basra, Kirkuk and the Kurdistan region by using all available outlets, including southern ports that operated until early March and northern routes to Türkiye’s Mediterranean port of Ceyhan.

As part of efforts to diversify export options, Shatari revealed that the first shipments of fuel oil and Basra Medium crude successfully reached Syrian ports.

He noted that Iraq had signed a deal to export 50,000 barrels per day via this route, describing cooperation with Syria as “very significant,” with storage and security provided to ensure safe delivery to the port of Baniyas.

The route has proven effective and could become a permanent option after the crisis, he added.

Shatari further noted that the oil ministry is close to completing repairs on the Iraq-Türkiye pipeline, which suffered extensive damage in previous years.

Technical teams have inspected the most difficult terrain, with about 200 kilometers (125 miles) still to be assessed in the coming days before full pumping of Kirkuk crude resumes.

In a notable logistical move, Iraq has begun pumping Basra crude northwards for export via Ceyhan.

Flows started at 170,000 barrels per day and are expected to stabilize between 200,000 and 250,000 bpd, helping offset disrupted southern exports and supply energy-hungry markets in Europe and the Americas.

Shatari said Iraq has benefited from rising global prices by selling Kirkuk crude — a medium-grade oil — at strong premiums.

He also confirmed the reactivation of an agreement with the Kurdistan region to reuse the pipeline through the region to Ceyhan, helping lift total exports to 18 million barrels in March.

This came despite a drop in production in Kurdistan fields to about 200,000 bpd due to security threats, he added.

 

 


World Food Prices Rose in March as Iran War Lifted Energy Costs, FAO Says

 A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)
A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)
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World Food Prices Rose in March as Iran War Lifted Energy Costs, FAO Says

 A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)
A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)

The war in the Middle East has pushed food commodity prices higher due to higher energy and fertilizer costs, the UN's food agency said Friday. 

The UN's Food and Agriculture Organization (FAO) said its Food Price Index, which measures the monthly changes in international prices of a basket of food commodities, had increased 2.4 percent in March from February. 

It was the second rise in a row, which the agency said was largely due to higher energy prices linked to conflict in the Middle East. 

Within the index, the category of vegetable oil saw the sharpest rise, of 5.1 percent over February, as palm oil prices reached their highest point since the middle of 2022, due to effects from spiking crude oil prices, FAO said. 

However, a "broadly comfortable" supply of cereal has cushioned the damaged from the conflict, FAO said. 

"Price rises since the conflict began have been modest, driven mainly by higher oil prices and cushioned by ample global cereal supplies," said FAO Chief Economist Maximo Torero in a statement. 

But he warned that if the conflict goes on beyond 40 days and the high prices on fertilizer continue, "farmers will have to choose: farm the same with fewer inputs, plant less, or switch to less intensive fertilizer crops". 

"Those choices will hit future yields and shape our food supply and commodity prices for the rest of this year and all of the next." 

Disruptions to production and supply chain routes had also introduced "additional uncertainty" into the outlook for wheat and maize, FAO found. 


Turkish Inflation Near 2% Monthly in March, Below Forecasts

A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
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Turkish Inflation Near 2% Monthly in March, Below Forecasts

A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)

Turkish consumer price inflation was 1.94% month-on-month in March, while the annual figure fell to 30.87%, data from the Turkish Statistical Institute showed ‌on Friday.

In ‌a Reuters ‌poll, ⁠monthly inflation was ⁠forecast to be 2.32%, with the annual rate seen at 31.4%, driven by ⁠a rise in ‌fuel prices ‌and weather-related pressures ‌on food inflation.

In ‌February, consumer prices rose 2.96% month-on-month and 31.53% year-on-year, broadly in ‌line with estimates and reinforcing expectations that ⁠the ⁠disinflation process may be stalling.

The data also showed the domestic producer index rose 2.30% month-on-month in March for an annual increase of 28.08%.