Azerbaijan’s economy minister attends Turkic Council’s videoconference (PHOTO)

Azerbaijan’s economy minister attends Turkic Council’s videoconference (PHOTO)

BAKU, Azerbaijan, May 6


Economy ministers and heads of customs services of Turkic Council member states held discussions via videoconference on May 6, Azerbaijan’s Economy Ministry told Trend.

Representatives of observer states in the Turkic Council also joined the event.

The videoconference focused on the joint efforts to resolve the issues raised by the heads of state during the extraordinary summit of the Turkic Council held on the initiative and under the chairmanship of Azerbaijan’s President Ilham Aliyev on April 10.

Azerbaijan’s Economy Minister Mikayil Jabbarov, who currently chairs the organization, was the event moderator.

The discussions focused on the current economic situation in member states, developing joint proposals and practical measures on eliminating the negative socio-economic consequences of COVID-19, as well as the ways of further enhancing the cooperation in the corresponding spheres during the post-pandemic period.

Jabbarov pointed out that COVID-19 cases in Azerbaijan are low as a result of the numerous timely measures taken under the leadership and direct control of Azerbaijan’s President Ilham Aliyev.

As a model of well-thought-out and focused policy, Azerbaijan compares favorably in this sense, according to the minister.

Jabbarov gave detailed information on operational and systematic measures implemented primarily based on solidarity between the state and the citizens, in order to protect people's health, reduce the impact of the pandemic on the national economy, provide support to entrepreneurs and employees who have lost their jobs, and to maintain jobs, ensure social protection of the population, as well as prepare real soil to apply a new model of economic development in the post-pandemic period.

In order to effectively use the advantages of the bilateral free trade agreements between the Turkic Council members, as well as to ensure the development of e-commerce, Azerbaijan’s economy minister proposed to take measures for mutual recognition of electronic signatures, create a Turkic trading house, a catalog of border and transit regimes available in the countries of the Council, inform each other about urgent or planned changes in transport and transit regimes, as well as in the near future to create an online information exchange system to track products and procedures.

Recalling the issues of promoting the activities of the Turkic Chamber of Commerce and the creation of the Joint Investment Fund during the extraordinary Summit held by the heads of state of the Turkic Council in order to eliminate the negative effects on trade and investment, Jabbarov said that along with the expansion of mutual investment opportunities, such a Fund contributes to the development of entrepreneurship, in particular small and medium-sized businesses, the creation of new jobs, support for innovation and eventually, the economic and social development of countries.

The minister said that Azerbaijan is ready to fully support the creation of a joint investment fund in Baku.

Touching upon the digital economy, Jabbarov recalled that in early
2020 it was decided to create a branch of the Center for the Fourth Industrial Revolution of the World Economic Forum in Azerbaijan. He noted that all necessary measures will be taken to ensure the regional significance of the Center for the benefit of fraternal states.

Jabbarov emphasized the importance of creating state food reserves. From this point of view, it would be advisable to create a single list for all countries of the Turkic Council.

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