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Akbar Novruz

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The 5th traditional Caspian Business Forum was held in New York, organized by the Caspian Policy Center, Azernews reports.

The event brought together US and Caspian region officials, experts, and stakeholders to discuss the expanding business and energy environment in the South Caucasus and Central Asia, as well as regional connectivity and the COP29 agenda.

In his opening speech, Efgan Nifti, president of the Caspian Policy Center, emphasized the region's growing importance in the global market and food chain. He pointed out that the C5+1 meeting, held a year ago between the Central Asian heads of state and US President Joe Biden, marked a new phase of relations. Nifti added, "The United States, together with G7 partners, is expanding relations through the Partnership for Global Infrastructure and Investment (PGI) program, which has become a key source of foreign investment in the region."

He also underscored the strategic significance of transport links such as the Middle Corridor, highlighting the Caspian region's capacity to supply energy—both from hydrocarbons and renewable sources. Referring to Azerbaijan's upcoming role as host of the COP29 conference, Nifti stated, "The transition to 'Green Energy' will be of decisive importance for the Caspian region in the coming years."

U.S. Assistant Secretary for Energy Issues Geoffrey Pyatt stressed the need for both interregional and intraregional cooperation in delivering the Caspian region’s energy resources to global markets. He also discussed Azerbaijan’s role in the green energy transition within the COP29 framework and reaffirmed US support for the region’s energy security.

Acting PGI Coordinator Helaina Matza highlighted the importance of the Trans-Caspian Corridor in global trade and the United States' support for its development. She stated that her team is exploring initial investment opportunities in rail, ports, digital infrastructure, fiber, and distribution centers across the region.

Kubanychbek Omuraliev, Secretary General of the Organization of Turkic States, discussed the organization's commitment to increasing the prosperity of the Turkic world through enhanced cooperation. He noted the importance of the "Turkish World Vision 2040" and "TDT 2022-2026 Strategy" projects, while emphasizing the strategic value of the Trans-Caspian International Corridor.

Türkiye’s Deputy Minister of Foreign Affairs, Berris Ekinci, reaffirmed Turkey’s role as a reliable energy partner, highlighting cooperation with Azerbaijan, Turkmenistan, Kazakhstan, and Georgia in delivering the region's energy resources to Europe. "We strive to achieve more through our joint efforts," she added.

Speakers such as Azerbaijan's Deputy Foreign Minister Elnur Mammadov, Georgia's Deputy Foreign Minister Lasha Darsalia, Kazakhstan’s Presidential Adviser Zulfiya Suleimenova, and others discussed the significance of Caspian connectivity, regional development opportunities, and Azerbaijan’s leadership in COP29.

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Akbar Novruz is AzerNews’ staff journalist, follow him on Twitter: @ykwiua

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