(MENAFN- Trend News Agency) AGHDAM, Azerbaijan, July 1. We have 14 global and seven local initiatives, while two of them are related to our discussions, Head of the Economic Cooperation Department of the Azerbaijani Foreign Ministry Elmar Mammadov said, Trend 's correspondent on assignment in Aghdam reports.

He made the remark at the panel session "High-level Perspectives: The Role of Youth in Regional Development" of the Youth Forum, held for the first time within the framework of the "OIC Week" at the initiative of President of Azerbaijan Ilham Aliyev.

The official recalled that the Global Baku initiative was put forward at COP29.

"We wrote and compiled the Baku Guiding Principles. We compiled 12 elements, and then we had a joint statement with 14 UN agencies and multilateral banking organizations. These principles are already being approved by the countries. Within the framework of the COP presidency, we have come up with initiatives in the direction of climate and education. We are implementing these initiatives at the regional level," Mammadov noted.

He added that the second important issue is the adoption of climate finance.

"We brought climate finance and capital investments together for the first time. We did this to support developing countries. This was very important for sustainable climate finance. We believe that this initiative can also be implemented within the framework of the OIC.

Mammadov emphasized that we have about 25 documents related to OIC plans, which are currently undergoing intergovernmental processes.

"We are bringing together young people, women, and representatives of the private sector. They should be involved in the preparation of these documents," he articulated.

He pointed out that the holding of the Youth Forum for the first time in Karabakh is a historic event.

"I would like this to become an institution and be held in other OIC members as well," the official concluded.

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