An Economic Forum on "Transformation of the SPECA region into a global communication hub" was opened in Baku.
An Economic Forum on "Transformation of the SPECA region into a global communication hub" is being held in Azerbaijan.
Making an opening speech at the event, Minister of Economy Mikayil Jabbarov emphasized that SPECA (UN Special Program for the Economies of Central Asian Countries) week in Baku is dedicated to the 25th anniversary of the program. The Minister expressed confidence that the Economic Forum will facilitate the exchange of information between the program countries and support joint efforts. It was pointed out that SPECA is based on the goal of achieving common economic goals in the region, reducing inequalities and increasing prosperity in the region. Playing the role of a bridge between the East and the West, Azerbaijan stands out for its many years of cross-border trade and cultural exchange traditions. However, infrastructure development is needed as trade relations deepen under SPECA. Increasing initiatives in this field is important in mutually beneficial cooperation.
It was reported that Azerbaijan's trade turnover with SPECA countries increased 3.6 times and reached to 1.3 billion dollars in 2022. This indicator was 1.2 billion dollars in the first ten months of this year, which is about 16% more than the same period last year. In addition, Azerbaijan achieved positive results in terms of the volume of exports within the program. Azerbaijan's exports to the countries participating in the program increased by approximately 82% in the first 10 months of this year, compared to the same period last year. There are many opportunities to achieve higher results in this area. Measures such as simplification of customs procedures, reduction of trade barriers and optimization of transit transportation can make important contributions in this matter. The Minister of Economy expressed his views on the bilateral beneficial economic-trade partnership of our country with Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan within the framework of SPECA and the existing potential for better results in this field. The important contribution of Azerbaijan's growing transport and transit potential to the strengthening of our country's relations with Central Asia was noted at the forum. The importance of the National Priorities of Azerbaijan, the favorable business and investment environment, and the new realities created by the liberation of our territories has been brought to attention in this context.
Dmitry Maryasin, the deputy executive secretary of the UN Economic Commission for Europe, emphasized that the role of the SPECA countries in global trade has increased many times , and their economies have significantly developed over the past 25 years. It was noted that attention should be paid to a number of issues for the sustainable economic development of the countries participating in the program. This includes digital transformation, addressing supply chain issues, achieving full gender equality, accelerating the transition to a "green" economy, and more. It was reported that work is underway to establish the SPECA Fund. The funds that will be included in that fund will be directed towards achieving the Sustainable Development Goals.
Hirohito Toda, the deputy executive secretary of the UN Economic and Social Commission for Asia and the Pacific countries, noted the importance of strengthening relations between the program countries in energy, transport, environment, customs, information and communication technologies, trade and other fields, as well as the implementation of joint projects in the future. According to him, the economies of the program countries should be diversified, emphasis should be placed on digital development, elimination of climate change problems, ensuring food security, etc.
The representatives of Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan and Tajikistan expressed their views at the event on cooperation, economic and investment potential within SPECA, and initiatives to develop relations in various directions.
The forum continues its work with sessions.
