Azerbaijan has significant potential to increase its trade turnover with the countries of the United Nations Special Programme for the Economies of Central Asia (SPECA), according to Samad Bashirli, Deputy Minister of Economy of Azerbaijan, Report informs.
Speaking at the 19th session of the SPECA Governing Council in Dushanbe, Tajikistan, Bashirli highlighted the progress made in achieving SPECA's objectives.
"The continuous growth of trade turnover between the SPECA countries, the improvement of the investment environment, and active cooperation in key sectors such as transport, energy, agriculture, and technology are examples of this progress," he stated.
The deputy minister noted that simplifying customs procedures and facilitating trade will create favorable opportunities for growth. He also emphasized the important initiatives implemented in Azerbaijan to further improve the business environment and support innovative projects.
"These steps contribute to the expansion of business activities and the increase of investments in the region," Bashirli added.
During the event, reports from SPECA working groups and the secretariats of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and the United Nations Economic Commission for Europe (UNECE) were presented, followed by discussions. The "Dushanbe Declaration," which envisages regional cooperation in the digitalization of trade, investments, and other areas, was adopted.
The SPECA Economic Forum 2024, dedicated to green development in the region covered by the program, featured speeches by Ahliddin Nuriddinzoda, Deputy Minister of Economic Development and Trade of Tajikistan, the current chair of SPECA, as well as video messages from Armida Salsiah Alisjahbana, Executive Secretary of UNESCAP, and Tatiana Molcean, Executive Secretary of UNECE.
They emphasized the importance of dialogue and joint initiatives in the region to overcome the challenges of green development.
It was noted that Azerbaijan actively continues its green development strategy aimed at increasing energy efficiency, developing renewable energy, and reducing carbon emissions. The country is interested in expanding regional cooperation in this regard.
The event continued with sessions, where discussions highlighted the necessity of energy transformation, resource sustainability, and the application of innovative strategies for the transition to sustainable economic growth models in the region, given the climate challenges.
Meanwhile, at the first meeting of the Steering Committee of the SPECA Multi-Partner Trust Fund, it was noted that the fund, announced during COP29, is a flexible and inclusive financing mechanism for the joint development and implementation of development programs among participating states.
The fund will serve as a platform for cooperation to achieve sustainable development in the SPECA region and stimulate economic cooperation, sustainable development, and integration.