Azerbaijan, UNCTAD collaborate on creation of ‘green’ FEZs

BAKU: Azerbaijan is working with the United Nations Conference on Trade and Development (UNCTAD) on the creation of ‘green’ free economic zones (FEZs), Elmar Mammadov, Co-Leader of the Action Agenda Initiatives Team under the COP29 Presidency, said during an international conference within the Baku Climate Week today, Trend reports. ‘We would like to propose creating free ‘green’ economic zones on the basis of green energy zones or renewable energy zones that exist in the world. This is like a merger of a green energy zone and a free economic zone. We are now working on this issue jointly with the UN Conference on Trade and Development,” Mammadov mentioned. According to him, it’s planned within the framework of COP29 to start also several regional initiatives, particularly the establishment of the Forum of Climate Smart Cities of the United Nations Special Program for Economies of Central Asia, SPECA program. “We are working with the United Nations Economic Commission for Europe and UNESCAP on this issue, also with multilateral development banks. We will organize this EBRD and with other partners within the framework of the COP29 . Green Cities event for SPECA countries and also other regional initiatives within the framework of the Organization of Turkic States Partnership for Urban Development,” he added. To note, Baku is hosting Action Week for the first time from September 30 through October 4, 2024. The event is set to form the basis of the climate agenda ahead of COP29 in Baku in November. Key players from a variety of industries, including politics, finance, commerce, investment, science, the arts, culture, civil society, and media, come together for the Baku Climate Action Week (BCAW 2024). The main themes of the event are ‘energy transition,” ‘cities and urbanized environments,” ‘water security,” ‘food and agriculture,” “SMEs,’ and ‘green skills.’ The first half of the week (from September 30 through October 2) will focus on climate solutions involving government agencies, academia, and the priva te sector while the second half (October 3-4) will focus on science, education, arts, culture, and other sectors. Source: Trend News Agency