(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 21. The initiative
to create a multi-trust SPECA fund is planned to be politically
supported, Kyrgyz Deputy Minister of Economy and Commerce Kanat
Abdrakhmanov told Trend .
"The main focus now is on strengthening economic cooperation. In
this context, it is planned to politically support the effort to
establish a multi-trust fund, SPECA, which will play a key role in
country rapprochement, trade development, internal standard
harmonization, and, more broadly, the growth of investment
cooperation," he said.
According to Abdrakhmanov, the SPECA events have already
included discussions in the working group on trade, and concrete
plans have been adopted to simplify trade procedures, digital
transformation, the introduction of paperless transactions, and the
introduction of the single window principle for export-import
"We hope that these steps contribute to increasing trade between
SPECA member countries," Abdrakhmanov said.
According to him, today many countries report significant growth
in trade, but there are some difficulties in logistics. He
emphasized the need to move to more simplified approaches.
Abdrakhmanov also noted that these issues are being discussed
separately within the framework of working groups. In addition, an
agreed-upon document, "Roadmap for Digitalization of Trade," was
adopted. This document, endorsed by all SPECA member countries,
covers a broad spectrum and is fundamental for further joint
The UN SPECA program was established on March 26, 1998.
At present, the SPECA member states are Afghanistan, Azerbaijan,
Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and
SPECA provides a platform for sub-regional cooperation to
realize the Sustainable Development Goals (SDGs) that can best be
achieved through regional cooperation.
Azerbaijan is chairing the program in 2023 and hosting SPECA
Days in Baku on November 20–24, 2023.
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