The SESRIC delegation, led by H.E. Ms. Zehra Zümrüt Selçuk, Director General of SESRIC, paid a visit to the Center for Analysis of Economic Reforms and Communication (CAERC) of the Republic of Azerbaijan on 2 May 2023 in Baku, Republic of Azerbaijan, with the purpose of exploring potential avenues for collaboration, in accordance with the mandates of both institutions.

H.E. Prof. Dr. Vüsal GASIMLI, Executive Director of the Center for Analysis of Economic Reforms and Communication (CAERC) of the Republic of Azerbaijan, cordially received the SESRIC delegation, headed by Director General H.E. Mrs. Zehra Zümrüt SELÇUK. In return, Mrs. SELÇUK conveyed her appreciation to Dr. GASIMLI and acknowledged the gracious hospitality provided by the CAERC throughout their visit.

During the visit, the Director General of SESRIC provided an overview of the Centre's various programmes, projects and activities in the three mandated areas of the Centre, namely, statistics, research and training and technical cooperation. H.E. Mrs. SELÇUK also highlighted that SESRIC contributes to the implementation of the relevant resolutions adopted by various OIC fora in the domain of socio-economic development, particularly in the OIC Sectoral Ministerial Conferences and relevant OIC Standing Committees.

For his part, H.E. Prof. Dr. GASIMLI informed the SESRIC delegation on CAERC efforts to develop proposals for implementing economic reforms based on analytical data by conducting analyses and research on macro- and microeconomic levels to contribute to the country’s sustainable economic development. He also highlighted the economic and social studies undertaken by CAERC, mentioning that the CAERC staff is currently finalizing the report titled “Islamic Finance”.

Furthermore, the Executive Director noted that numerous opportunities exist for cooperation between the two organizations, including conducting joint research, conferences, seminars, and training for the benefit of OIC Member Countries. H.E. Mrs. SELÇUK assured continued cooperation with CAERC, while H.E. Prof. Dr. GASIMLI expressed appreciation for SESRIC's work and its role in enhancing intra-OIC cooperation across various socio-economic domains, wishing success for SESRIC under the Director General's leadership.

At the conclusion of the fruitful and productive meeting, both sides emphasized their commitment and readiness to develop greater cooperation in the areas of common interests, including the areas of economy, finance, and banking, and agreed to sign a Memorandum of Understanding (MoU) to formalize their collaboration and define the scope of future partnerships.

The Center for Analysis of Economic Reforms and Communication (CAERC) was set up by a presidential decree dated 20 April 2016. The main targets of the Center are to develop proposals for the realization of economic reforms based on analytical data by conducting analyses and research on macro - and micro-economic levels directed to ensuring sustainable economic development of the country, as well as prepare mid – and long-term forecasts, provide government authorities and agencies with the same and organize the promotion of the achievements made by the Republic of Azerbaijan in various sectors of the economy.

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