The B5+1 Forum, led by the Center for International Private Enterprise (CIPE), has concluded with a series of concrete recommendations aimed at accelerating Central Asia’s regional integration and economic development, CIPE reported.
The B5+1 Forum serves as the business counterpart to C5+1, the diplomatic platform for Central Asian countries (Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, Uzbekistan) and the U.S. The recommendations stem from a conference held in Almaty, Kazakhstan from March 13 to 15, which brought together business leaders, policymakers, experts, and investors.
The Forum's communique emphasizes the need for collaboration between C5+1 governments and businesses to position Central Asia as an attractive destination for investment and economic growth. Priority measures outlined include improving trade, transit, and investment facilitation, harmonizing regulations, and fostering economic growth.
CIPE Executive Director Andrew Wilson stresses the importance of the Forum's recommendations in opening markets and improving the business climate regionally and globally. The Forum, which marks the first conference of its kind in the region, represents the culmination of extensive consultations with over 400 business organizations and government officials over the past year. It brought together more than 250 participants from ten countries for targeted panel discussions on business barriers and solutions, as well as side events addressing complex issues such as artificial intelligence and banking sector access to international systems.
Eric Hontz, Director of CIPE’s Center for Accountable Investment, highlighted the economic opportunities within Central Asia identified during the Forum.
As a continuation of these efforts, Forum participants committed to holding annual events, with sponsorship rotating among member countries. They also agreed to establish new subgroups to improve the financial sector and promote women’s entrepreneurship in the region.
Abdulwahab Alkebsi, Managing Director of Programs at CIPE, stressed the Forum's role in fostering trust and shared purpose among businesses and governments. The B5+1 efforts are supported by the U.S. Department of State and align with goals outlined in the New York Declaration issued by the C5+1 countries in September 2023, which include enhancing economic security and resilience.
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