President Tokayev participates in first SPECA Summit in Baku

The countries participating in the UN Special Programme for the Economies of Central Asia (SPECA) have the potential to bring mutual trade turnover to $20 billion. Kazakhstan is ready to boost its exports to these markets by over $2 billion supplying 175 types of non-primary goods, as stated today by Kazakh President Kassym-Jomart Tokayev at the first SPECA Summit. The Head of State emphasized the growing importance of the UN special program amidst the rapidly changing global economic conditions. Kazakhstan, as the initiator of its creation in 1997, notes that it has become an effective platform for expanding regional cooperation and integration. Looking ahead, the creation of green corridors and the removal of barriers will give further impetus to the trade partnership among the countries.

“Kazakhstan tries to make a lot to ensure food security. Over the past five years, we have doubled the volume of agricultural products and now export them to more than 80 countries. We intend to work tirelessly with all SPECA member states. Special attention should be paid to creating tools to stimulate investment cooperation among the SPECA countries. In this regard, the establishment of the SPECA Trust Fund under the United Nations auspices for economic development and integration is an important new step. Bearing in mind the importance of the Special Program, Kazakhstan is ready to make financial contribution to the Fund,” Tokayev said.

The Head of State believes that within the SPECA framework, there is significant potential in the field of industrial cooperation. Collaboration in the machinery industry will enhance the global competitiveness of the region’s states, which play a significant role in developing and diversifying international transport-transit routes. President Tokayev invited all interested parties to cooperate in expanding the capacities of the Caspian Sea ports and the production of transport vessels. Furthermore, he called for the development of a common action plan to improve the condition of the Caspian Sea, proposing the creation of a dedicated working group by the governments of the SPECA countries. Kazakhstan may also host one of the next SPECA summits, as mentioned by the country’s President.

Web-editor: Aizhan