First EU-Central Asia Economic Forum
About the conference
The 1st EU-Central Asia Economic Forum took place on 5 November 2021 in Bishkek, Kyrgyz Republic.
Context
EU support to Central Asia was reaffirmed as the cornerstone of EU-Central Asia cooperation following the financial and logistic support that the EU provided to Central Asian States during the Covid-19 pandemic under the Central Asia COVID-19 Crisis Response Programme. The First European Union-Central Asia Economic Forum insisted on the transformation of Central Asian economies through regional integration, integration in global value chains and support for the creation of competitive private-sector led economies. Post-COVID-19 recovery was a major subject of discussions as well.
Particular attention was given to the green transition as a part of Central Asia’s post-COVID-19 recovery, the digital transformation and the improvement of the business environment.
- The effects of climate change on water supply and energy resources in Central Asia were brought to the participants’ attention; Central Asia’s potential to adopt renewable energy sources and to ensure a green transition was acknowledged, with a highlight on the green investment opportunities created by the EU Strategy on Central Asia;
- Digitalisation has been recognised as an essential path towards efficiency and transparency in the public administration systems in Central Asian countries, as well as a potential stimulus for competitiveness in the private sector. The national digital strategies of the Central Asian States were welcomed, and the need to improve digital infrastructure as well as internet penetration was restated;
- A healthy business environment has been acknowledged as a crucial precondition for sustainable and inclusive growth, better connectivity between the EU and Central Asia, and production diversification; the need for taxation reforms, minimisation of cumbersome bureaucratic procedures and privatisation of SOEs has been expressed.
The First European Union-Central Asia Economic Forum highlighted the necessity for cooperation between the EU and Central Asian countries for growth and better connectivity in the post-COVID-19 world. The Forum is meant to be regularly followed-up to review the progress in the three key areas outlined above.
Objectives
The Forum aimed to build upon the successful cooperation between the EU and Central Asian States during the COVID-19 pandemic by broadening this cooperation to areas such as the green transition, digitalisation and the improvement of the business climate. The Forum is expected to create a new framework for dialogue between the European Union and Central Asian countries on a wide range of issues and strengthen inter-regional cooperation by sharing successful practices and policy recommendations.
Format and participation
The Forum was a high-level meeting hosted by the Kyrgyz Republic in Bishkek. The Forum, from the EU side, was led by the Executive Vice President of the European Commission Valdis Dombrovskis.
The Forum gathered high-level government officials, the European Investment Bank, the European Bank for Reconstruction and Development, other bilateral and international financial institutions, representatives of the private sector and members of civil society. It was organised in partnership with the Organisation for Economic Cooperation and Development.