The Ministers of Economy, Trade and Investment of Arab countries, Central Asian states and Azerbaijan held the first business and investment conference on 26-27 February 2025 on the sidelines of the Investopia 2025 International Forum in Abu Dhabi under the motto “Towards sustainable cooperation and Partnership”.
The Conference on Arab Business and Investment with the Countries of Central Asia and Azerbaijan was organized by the UAE in cooperation with the General Secretariat of the League of Arab States (LAS) in accordance with the Memorandum of Cooperation signed between LAS, Central Asian countries and the Republic of Azerbaijan at the first Forum of Arab Economic Cooperation with Central Asian Countries and Azerbaijan, which was held in Saudi Arabia in 2014.
The Conference also builds on the provisions of the Doha Declaration 2024, adopted at the third session of the Forum, held in Qatar, which encouraged the establishment of economic partnership between Arab countries, Central Asia and Azerbaijan.
The Emirati news agency WAM published the final communique of the conference. Summarizing the text of the communique, the following areas of cooperation can be highlighted, which the Central Asian and Arab League countries intend to focus on in the future.
Sustainable economic partnership: The Ministers discussed methods to enhance economic and investment cooperation between the countries, reaffirming the importance of economic integration and investment in relevant sectors.
The Ministers emphasized the importance of the strategic relations between the countries and coordination in key economic sectors such as energy security, renewable energy and green solutions, sustainable development, supply chain resilience, transportation, communication, food security, water security, tourism, and digital transformation, in addition to expanding investment in these areas, among others.
Strategic resources: The Ministers highlighted the vast natural resources and investment opportunities in energy, mining, and petrochemical industries across Arab countries, Central Asian states, and Azerbaijan.
Connectivity: The importance of developing connected transport routes, strong logistics and trade networks was emphasized. The sides reiterated their support for infrastructure projects within Central Asia and Azerbaijan, such as the Trans-Caspian International Transport Route (The Middle Corridor).
Digitalization and innovation: The conference called for enhanced cooperation in green economy, digital economy, AI, fintech, and research and innovation and encouraged joint investment in these strategic areas between the countries.
Water resources: The parties expressed their willingness to share their experience in the field of water resources management and sustainable solutions to combat water scarcity.
Social development: The Ministers stressed the importance of academic and educational exchanges, cooperation in the field of healthcare and poverty reduction, economic inclusion, including empowering women and youth and enhancing the rights of people of determination and the elderly.
Private sector: To facilitate communication between business representatives, it was proposed to create a joint database of the private sector of both regions.
The Ministers reaffirmed their commitment to sustained dialogue and strategic policymaking to foster a long-term Arab-Central Asia-Azerbaijan economic partnership.
The next Business and Investment Conference in the Arab States – Central Asian Countries and Azerbaijan format is scheduled for 2027 in one of the Central Asian countries or in Azerbaijan. ///nCa, 3 March 2025 [photo credit – Azertag]