New Delhi is developing facility to open up trade corridor that bypasses Pakistan. Project will open gateways into Central Asia via Afghanistan and Turkmenistan.
Turkmenistan, hit by a financial crisis that has even led to passport-based bread rationing, will hope for major revenues.
The Turkish currency crisis is not expected to cause contagion in other emerging markets but it has hurt the currencies of its regional neighbours where it plays a more important role via trade, banking and investment links.
To all-round surprise, the Islamic fundamentalists six months ago offered to protect Afghanistan's section of the planned TAPI gas pipeline. Observers now wonder if they might eventually shake their addiction to an opium-hooked economy.
Signing of convention made for a nice photocall, but expect more interminable wrangling on how to divide up the oil and gas resources.