BAKU, Azerbaijan, October 15. Trade
diversification will play an important role for the countries of
the Caucasus and Central Asia, the Director of the Middle East and
Central Asia Department at the International Monetary Fund, Jihad
Azour told Trend.
“Trade diversification will play an important role amid the
fragmentation of the global economy, helping countries in the
region sustain and accelerate economic growth. This applies to both
the countries of the Caucasus and Central Asia and to the states of
the Middle East,” he said.
According to Azour, the second important area is transport
connectivity.
“Amid the fragmentation of the global economy, the development
of transport links is becoming one of the key priorities for these
countries. It is necessary not only to overcome shortages resulting
from external shocks but also to expand economic opportunities,” he
said.
Azour noted that the third area is regional integration.
“It is becoming a new tool for expanding markets, developing
infrastructure, and increasing the resilience of economies to
external shocks. All of these areas are of great importance for
shaping regional economic policy. The IMF is working with countries
and regions to accelerate the implementation of relevant reforms,”
he noted.
