Central Asian States to Create Council of Industrialists and Entrepreneurs

Central Asian States to Create Council of Industrialists and Entrepreneurs
Consultative Meeting of the Heads of State of Central Asia, Avaza, Turkmenistan

Presidents of the Central Asian countries announced the need to create a five-sided Council of Industrialists and Entrepreneurs of the Central Asian countries, according to a Joint Statement of the Heads of State of Central Asia following the Consultative Meeting held on Friday in the Avaza National Tourist Zone.

According to the statement, the new Council is expected to impart a purposeful and systemic character to mutual cooperation in trade-economic, energy, transport-logistics and innovation areas.

In order to jointly develop the financial system and attract investments to the region, the Heads of the five states agreed to use the site of the Astana International Financial Center as an economic platform connecting the countries of the Central Asian region, as well as with foreign investors.

In addition, the Presidents supported the initiative of the Uzbek side to create a Regional Center for the Development of Transport and Communications Connectivity, under the auspices of the UN. The parties intend to increase the volume of mutual trade by creating regional value chains and joint industrial clusters, and through increasing cooperation in promoting the digital economy.

The Heads of State of Central Asia also agreed to make efforts for the joint development of the North-South and East-West international corridors.

The Statement also says that the Presidents intend to intensify work to expand cooperation between business circles and regions of the Central Asian states in order to increase mutual trade, implement joint economic projects, including the development of trade and production sites in the border areas, as well as a network of wholesale distribution centers.

The parties noted the importance of building up mutual trade and the need to further develop common mutually beneficial approaches to effectively solving the issue of simplifying trade procedures in the region.