In a move towards strengthening economic cooperation, the countries of Central Asia - Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan - have joined forces with the United States to launch an initiative, the Business 5+1 (B5+1) platform. This platform, aimed at fostering public-private dialogue, was announced by the U.S. State Department's Bureau of South and Central Asian Affairs.
As per the Bureau, the B5+1 platform is designed to promote economic security through regional economic integration and reform, encourage public-private dialogue, stimulate innovation, and facilitate foreign investment. This collaborative effort signifies a commitment to bolstering economic ties between Central Asian nations and the United States.
The inaugural meeting in the B5+1 format is scheduled to take place in 2024 in the capital of Kazakhstan, Almaty. This meeting is anticipated to serve as a critical milestone in solidifying the foundation for enhanced economic collaboration between the Central Asian countries and the United States.
The decision to create the B5+1 business platform was reached in September during the first summit of the heads of state of Central Asia and the United States (C5+1) held in New York. The leaders acknowledged the potential of the new platform to complement diplomatic contacts between the countries by facilitating connections in the private sector, thus contributing to economic development.
By fostering a conducive environment for dialogue and investment, the B5+1 platform aims to create opportunities for shared prosperity and mutual benefit among the participating nations.
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