Azerbaijan and the UN Trade and Development (UNCTAD) discussed the Baku Initiative for Climate Finance, Investment, and Trade (BICFIT), Azerbaijani Economy Minister Mikayil Jabbarov said on X, Report informs.
“In a video conference with Secretary-General Rebeca Grynspan, we discussed preparations for the upcoming High-Level Meeting on BICFIT, scheduled for COP29,” Jabbarov said.
According to the minister, BICFIT represents a promising opportunity to strengthen global collaboration in areas such as climate finance, investment, trade, and sustainable development.
“We emphasized BICFIT’s potential to drive inclusive climate finance, harness private sector contributions, and support global decarbonization efforts,” Jabbarov concluded.