A declaration was signed at the High-Level Session dedicated to the CAREC Partnership on Climate, Innovation and Trade organized by the Ministry of Economy within the framework of COP29 in Baku.
Dedication to the CAREC Partnership on Climate, Innovation and Trade organized by the Ministry of Economy within the framework of COP29 A High-Level Session was held.
In the event moderated by Laziza Sabirova, regional head of the Cooperation and Integration Department for Central and Western Asia of the Asian Development Bank, Minister of Economy Mikayil Jabbarov emphasized the contribution of the CAREC Program to the development of the region. It was noted that the program supports the strengthening of regional cooperation by investing in high-quality projects in various sectors, including priority directions. It was pointed out that Azerbaijan, an important transport hub in the region, plays an important role in the continuous improvement of cross-border and transit procedures, logistics and digitalization of trade. It was stated that efforts to strengthen trade and investment relations with CAREC countries of Azerbaijan are continued: “In the nine months of 2024, the trade turnover between Azerbaijan and the CAREC member states reached approximately 4 billion US dollars, and the share of CAREC countries in the total foreign trade of Azerbaijan is 11, It was 5 percent.” It was noted that the “Baku Declaration on CAREC Partnership on Climate, Innovation and Trade” signed within the event will form a new platform supporting initiatives in the social, economic and environmental fields in the region. Also, within this framework, the process of adopting new green principles will be facilitated, and the dialogue on trade and climate change will be encouraged.
Asia Development Bank President Masatsugu Asakawa, Asian Development Bank Central and Western Asia Department General Director Yevgeny Zhukov, 2024 Nurlan Baybazarov, Deputy Prime Minister, Minister of National Economy of Kazakhstan, who chaired the CAREC Program for 2018, expressed his views on the partnership of CAREC countries, joint measures against the negative effects of climate change, and the possibilities of implementing green projects. The session included presentations on the CAREC Climate Change Action Plan, the CAREC Climate and Resilience Project Readiness Fund and the CAREC Partnership on Climate, Innovation and Trade.
The event included climate risk preparedness, water, energy and food security, low carbon solutions. , discussions were held on the strengthening of partnership in the direction of climate action. The Baku Declaration on CAREC Partnership for Climate, Innovation and Trade was signed among the countries that are members of the program.
