Baku hosting CAREC Think Tank Development Forum

Today, the Sixth Annual CAREC Think Tank Development Forum (CTTDF), organized by the Central Asian Regional Economic Cooperation (CAREC) Institute (CI) of the Asian Development Bank (ADB) and the Economic and Scientific Research Institute (ESRI) of the Ministry of Economy of Azerbaijan, kicked off in Baku, Report informs.

The theme of the Forum, which has been held since 2016, is "Recalibrating Growth Dynamics for Inclusive and Sustainable Economies".

Speaking at the opening of the Forum, Deputy Minister of Economy, Samad Bashirli, drew attention to the effective cooperation of Azerbaijan with ADB and CAREC and the contribution of the restoration and reconstruction of the liberated territories to regional cooperation. He informed about the tasks and goals arising from the “Azerbaijan 2030: National Priorities for Socio-economic Development" and the "Strategy of socio-economic development in 2022-2026."

ADB Vice President Shixin Chen noted the role of CAREC in regional economic cooperation and expanding relations between member states and emphasized the importance of the Forum in this regard.

Then the Memorandum of Understanding on Cooperation was signed between the CAREC Institute and the Economic Scientific Research Institute. The document was signed by the director of the CAREC Institute, Syed Shakeel Shah, and the Chairman of the Board of ESRI, Mahir Humbatov.

Albert Park, Director General of ADB, Hans Holzhaker, Chief Economist of CAREC Institute, Norbert Funke, Director of IMF Capacity Development Center (CCAMTAC), ESRI employees Ilham Humbatov and Natig Madatov, as well as representatives of the international financial institutions, local and foreign think-tanks, public and private sector and international experts, made speeches and panel discussions were held at the event.

The Forum will continue with review of the development models and strategies, CAREC Think Tank Network (CTTN) regional research report, sustainable development goals, climate change and green energy, geopolitical uncertainties, the impact of the coronavirus (COVID-19) pandemic on growth and inclusion, and panel sessions on building alliances for regional prosperity.