17:00 - 14.11.2024

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November 14, Fineko/abc.az. Over the past 30 years, direct investments from the countries participating in the Central Asian Regional Economic Cooperation (CAREC) Program of the Asian Development Bank (ADB) in Azerbaijan amounted to $1.4 bn, and Azerbaijan's direct investments in the CAREC countries - $4.2 bn.

ABC.AZ reports, quoting Economy Minister Mikayil Jabbarov, as saying this at the Ministerial Meeting on the CAREC Partnership in the field of climate, innovation & trade within COP29.

He noted that Azerbaijan continues its efforts to strengthen trade and investment relations with the CAREC countries: "For Jan-Sept 2024, trade turnover between Azerbaijan and the CAREC member countries reached nearly $4 bn, and the share of CAREC countries in Azerbaijan's total foreign trade during this period made up 11.5%. We observe the same positive dynamics in mutual investments."

The action plan on climate change will be presented at the CAREC Ministerial Conference. The main goal of the CAREC Program, established by ADB in 1997, is to promote economic cooperation between the countries of Central Asia, the South Caucasus and South Asia.