Ministers Discuss Economic Cooperation At Conference On Arab Business And Investment With Central Asia And Azerbaijan

The Ministers of Economy, Trade, and Investment from Arab nations, Central Asian countries, and Azerbaijan gathered at the inaugural "Conference on Arab Business and Investment with the Countries of Central Asia and Azerbaijan." This event took place on 26th and 27th February at Investopia 2025 in Abu Dhabi. The conference was held under the theme "Towards Sustainable Cooperation and Partnership" and was patronised by His Highness Sheikh Mansour bin Zayed Al Nahyan.

The conference was organised by the UAE in partnership with the General Secretariat of the League of Arab States (LAS). This collaboration followed a Memorandum of Cooperation signed between LAS, Central Asian countries, and Azerbaijan during the first session of the Arab Economic Cooperation Forum in Saudi Arabia in 2014. The event also aligned with the "Doha Declaration 2024," which encouraged an economic partnership between Arab countries, Central Asia, and Azerbaijan.

The ministers emphasised strengthening economic ties by focusing on strategic sectors such as energy security, renewable energy, sustainable development, supply chain resilience, transportation, communication, food security, water security, tourism, and digital transformation. They highlighted the need to expand investments in these areas to foster mutual growth.

They discussed enhancing trade and economic cooperation to achieve joint benefits. The ministers supported efforts to improve trade networks and logistics between regions to facilitate goods and people movement. They reiterated their backing for infrastructure projects like the Trans-Caspian International Transport Route (The Middle Corridor) within Central Asia and Azerbaijan.

The ministers highlighted abundant natural resources and investment opportunities in energy, mining, and petrochemical industries across Arab countries, Central Asian states, and Azerbaijan. They stressed developing connected transport routes to boost trade flows between these regions.

They called for enhanced cooperation in green economy sectors like AI, fintech, research innovation, environmental preservation, climate action, glacier protection, water resource management expertise sharing for sustainable solutions against water scarcity.

Commitment to Dialogue

The ministers reaffirmed their commitment to sustained dialogue for a long-term economic partnership promoting regional development. They praised LAS's role in fostering multilateral cooperation among participating countries while addressing global economic challenges through international forums.

They expressed readiness to share expertise in healthcare improvement initiatives targeting poverty reduction efforts including empowering women youth enhancing rights people determination elderly inclusion policies fostering mutual understanding cooperation academic exchanges historical cultural ties further promote collaboration.

Future Prospects

The ministers commended participating countries' leading roles confronting climate change supporting international efforts demonstrated hosting consecutive Conferences Parties Egypt COP27 UAE COP28 Azerbaijan COP29 Action Agenda initiatives aligning climate action sustainable development goals.

They thanked UAE hosting organising collaboration General Secretariat LAS first edition conference looked forward second edition taking place one Central Asian countries Azerbaijan 2027 tangible outcomes recommendations fostering industry connections enhancing trade investment flows creating joint database private sector representatives both regions facilitate communication.

With inputs from WAM