Int'l economic forum participants discuss establishment of SPECA Fund in Ashgabat

21 November 2019 16:57 (UTC+04:00)

By Trend

An issue of establishing the Fund of the UN Special Program for the Economies of Central Asia (SPECA) has been discussed within the international economic forum held in Ashgabat on November 20-21, Trend reports referring to the Turkmen Dovlet Khabarlary state news agency.

The forum was organized by the Turkmen government together with the United Nations Economic Commission for Europe (UNECE) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).

Discussing the prospects of the establishment of the SPECA Fund, the participants expressed conviction that the Fund will contribute to the development of the regional cooperation process. In general, this structure is intended to become the coordination center for SPECA national decision-making bodies.

In his speech, Turkmen Minister of Finance and Economy Batyr Bazarov stressed that the main message of the forum aims to promote productive interaction through sustainable transportation and simplification of trade procedures in the SPECA region upon the principles of mutual respect and mutual benefit.

The forum participants emphasized that the main task facing the SPECA member-states is to make the SPECA region a reliable transportation hub through the implementation of the relevant goals of the 2030 Agenda for Sustainable Development and the Sustainable Development Goals.

Following the forum, the recommendations will be made to strengthen the political, legal and institutional foundations of the regional economic cooperation.

Turkmenistan presides over SPECA this year.

SPECA was established in 1998 upon the Tashkent Declaration signed by Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, as well as the Executive Secretaries of UNECE and ESCAP. Later, Azerbaijan, Afghanistan and Turkmenistan joined the program.


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