Baku is hosting an economic forum on the theme "Transformation of the SPECA region into a global communications hub" (SPECA-2023).

According to Azernews, Minister of Economy Mikail Jabbarov noted that the SPECA week (the UN Special Program for the Economies of Central Asian Countries) in Baku is dedicated to the 25th anniversary of the program. The Minister expressed confidence that the Economic Forum will facilitate the exchange of information between the program countries and support joint efforts. It was noted that SPECA is based on the goal of achieving common economic goals in the region, reducing inequality, and improving well-being in the region. Playing the role of a bridge between East and West, Azerbaijan stands out for its long-standing traditions of cross-border trade and cultural exchange. However, as trade relations within SPECA deepen, infrastructure development is needed. Increasing initiatives in this area is important for mutually beneficial cooperation.

It was noted that in 2022, Azerbaijan's trade turnover with SPECA countries increased 3.6 times and reached $ 1.3 billion. And in the first ten months of this year, this figure amounted to $ 1.2 billion, which is about 16 percent more than in the same period last year. In addition, Azerbaijan has achieved positive results in terms of exports within the framework of the program. Compared to the same period last year, Azerbaijan's exports to the participating countries of the program increased by almost 82 percent in the first 10 months of this year. The possibilities for achieving higher results in this area are wide. Measures such as simplification of customs procedures, reduction of trade barriers, and optimisation of transit traffic can make an important contribution to this issue. The Minister of Economy expressed his opinion on the bilateral beneficial economic and trade partnership of our country with Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan within the framework of SPECA and the existing potential in this area. The forum highlighted the important contribution of Azerbaijan's growing transport and transit potential to strengthening our country's ties with Central Asia. In this context, the importance of Azerbaijan's national priorities, a favourable business and investment climate, and the new realities created by the liberation of our territories were emphasised.

Dmitry Maryasin, Deputy Executive Secretary of the UN Economic Commission for Europe, stressed that over the past 25 years, the role of SPECA countries in world trade has increased many times, and their economies have grown noticeably. It was noted that for the sustainable economic development of the participating states in the program, it is necessary to pay increased attention to a number of issues. This includes digital transformation, eliminating problems in the supply chain, fully achieving gender equality, accelerating the transition to a green economy, and other issues. It was noted that work is underway to create a SPECA Fund. The funds that will be transferred to this fund will be used to achieve the Sustainable Development Goals.

Hirohito Toda, Deputy Executive Secretary of the UN Economic and Social Commission for Asia and the Pacific, noted the importance of strengthening ties between the countries of the program in the fields of energy, transport, environment, customs, information and communication technologies, trade, and other areas, as well as the implementation of joint projects in the future. In his opinion, the economies of the program countries should diversify, focus on digital development, overcome the problems of climate change, ensure food security, etc., and attention should be increased.

At the Forum, representatives of Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan, and Tajikistan expressed their views on cooperation within the framework of SPECA, economic and investment potential, and initiatives to develop relations in various areas.

The Economic Forum continued its work with sessions on the topic "Transformation of the SPECA region into a global communications hub".

During the session on ”Digital transformation of data and document exchange in the supply chain using UN standards", Deputy Chief of Staff of the Ministry of Digital Development and Transport of Azerbaijan, Bakhtiyar Mammadov noted that digital transformation is one of the priorities of our country in the field of digitalization, information, and communication technologies. He gave information about the construction of infrastructure, the application of modern technologies, and international cooperation in this field.

Deputy Minister of Economic Development and Trade of Tajikistan Akhliddin Nuriddinzoda, Secretary General of the International Association “Trans-Caspian International Transport Route” Gaidar Abdikarimov, Chairman of the Central Asian Transport and Logistics Partnership Larisa Kislyakova, Deputy Permanent Representative of Kazakhstan to the UN Economic and Social Commission for Asia and the Pacific Vitaly Alexandrov and Sue Probert, Chair of the UN Centre for Trade Promotion and E-Business, stressed the importance of digital transformation and electronic document exchange in terms of effective cooperation in regional trade and also spoke about the benefits of supporting the SPECA principles of sustainable trade by the countries of the region and other related issues.

At the event, a conversation was opened about the existing experience in the field of digital transformation in the participating countries, suggestions were made about the potential of partnership.

The forum continued in sessions.