Azerbaijan, CAREC eye co-op in digital transformation, green development

9 August 2021 14:33 (UTC+04:00)

By Ayya Lmahamad

Azerbaijan’s Center for Analysis and Communication of Economic Reforms and Asian Development Bank’s (ADB) Central Asia Regional Economic Cooperation (CAREC) have discussed cooperation in digital transformation and green development.

During the meeting, CAREC was informed about the improvement of Azerbaijan’s position in the international ratings as a result of the systematic economic reforms carried out under the leadership of President Ilham Aliyev.

The participants of the meeting were also informed about the Center’s activities in preparation and implementation of reforms, implementation of large-scale research projects and strategic development projects, monitoring and evaluation.

Furthermore, the parties discussed opportunities for expanding cooperation with CAREC in such areas as the implementation of joint research and development projects, joints activities, among others.

Regional cooperation and sustainable economic growth was high on the agenda of the meeting.

The meeting was attended by the Head of the Department of Economic Analysis and Analytical Information Rashad Huseynov, Head of the Project Department Vusala Jafarova and head of the Department of Strategic Planning and Development Ayaz Museyibov, CAREC Institute Chief Economist Hans Holzhacker, Research Specialist Shahboz Ahmedov, Specialist Rovhsna Makhmudov, Economist Dr Kamalbek Karymshakov and Head of Research Dr Qaisar Abbas.

Since joining the CAREC program in 2002, Azerbaijan has invested about $3 billion in its projects. The Central Asia Regional Economic Cooperation Program is chaired by Azerbaijan this year.

Founded in 1997, CAREC is in a partnership with 11 countries - Afghanistan, Azerbaijan, China, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Pakistan, Tajikistan, Turkmenistan and Uzbekistan and six multilateral institutions: Asian Development Bank, European Bank for Reconstruction and Development, International Monetary Fund, Islamic Development Bank, United Nations Development Program and the World Bank.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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