The Baku Declaration on Climate Finance, Investment and Trade Dialogue, by creating synergy with other global and regional initiatives, will contribute to forming a coordinated approach to climate financing in the region, Kazakhstan's Deputy Minister of Economy Nurlan Baibazarov said at the CAREC ministerial meeting on climate, innovation and trade partnership within COP29.
Report quotes him as saying regional cooperation plays a key role in achieving the common goals of the CAREC program, which has proven itself as a platform uniting people, policy initiatives, and projects from different countries.
"We are aligning our efforts with global climate commitments, and our strategies are oriented towards achieving these goals. The CAREC 2030 Strategy combines our national priorities with the broader goal of sustainable development and environmental protection. The main challenges we face include climate change, economic inequality, and the need for innovation. With the CAREC agenda, we strive to bridge the gap between our economies and the global market," said the deputy minister.
The main objective of the CAREC program, established by ADB in 1997, is to promote economic cooperation between the countries of Central Asia, South Caucasus, and South Asia.