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Panel session as part of the 7th ADA Political Forum held in Khankendi -PHOTO

08 April 2025 17:50 (UTC +04:00)

A panel session titled “Facing the New World Order: Expectations from Economic Transformation and the Digital Revolution” was held in Khankendi as part of the 7th ADA Political Forum, APA reports.

The session was moderated by Fariz Ismayilzade, Vice-Rector of ADA University and Member of Parliament.

Renat Bekturov, head of the Astana International Financial Centre, noted that global economic developments often create complex challenges for countries: “The regional economic system can promote our country’s development. We have a functioning securities market, and our government is striving to implement finance and development-based economic policies. As a platform, we can support governments in this regard.”

He also revealed that his country is involved in the establishment of several enterprises in the transport and logistics sector: “These structures serve the development of corridors connecting East and West.”

Urs Unkauf, the head of the German Federal Association for Economic Development and Foreign Trade, emphasized the significance of the forum and noted that the conference in Khankendi would help build strong bridges of cooperation between participating countries: “There are significant ties between the Federal Republic of Germany and Azerbaijan. We are interested in further developing these relations. My country has substantial potential in both artificial intelligence and digitalization. Today, almost all countries face global changes. However, despite this, we remain optimistic about the future. The geopolitical and geostrategic changes happening in the world cannot be ignored. In this context, we consider it essential to expand cooperation between countries.”

He also highlighted Azerbaijan’s role as a host of COP29 last year: “Hosting COP29 in Azerbaijan last November demonstrates your country's significant commitment to climate issues.”

Unkauf added that the 2022 energy crisis left Southern European countries struggling to access resources, emphasizing Azerbaijan’s growing importance as a major gas producer.

Greek professor Marika Karagianni from Democritus University of Thrace also noted that both global crises and energy shortages have underscored the importance of transitioning to green energy: “Countries like Azerbaijan, as well as Egypt, Tunisia, and Israel, have significant potential in producing and exporting alternative energy sources. We believe that Azerbaijan can play a key role in supplying green energy to Europe via relevant routes in the diversification of energy resources in Europe. Countries located in Central Asia and the Caspian region are future major and reliable energy suppliers for Europe. Central and Northern European countries also need energy market diversification. This step will further promote the use of green energy resources.”