Astana, 30 October 2024 – The Astana International Finance Centre, supported by the CICA Secretariat, concluded a series of expert meetings to consider a draft document institutionalizing the CICA Finance Summit.
Following lively and detailed expert-level discussions on 8, 17 and 30 October, representatives of the CICA Member States finalized the text of the document expected to institute the CICA Finance Summit as a new CICA advisory body. The document will be further considered at the upcoming meetings of the CICA Special Working Group and Senior Officials Committee for submission to the Seventh CICA Ministerial Council Meeting on 19 December 2024 in Baku.
The Finance Summit, initiated by China during its 2014-2018 Chairmanship in CICA, has become a useful platform for regional financial cooperation. China successfully hosted three meetings of the Finance Summit in 2018, 2019 and 2021, each addressing key topics such as financial innovation, practical cooperation and responses to global challenges like COVID-19.
The initiative to transform the Finance Summit into a permanent CICA institution to foster economic and financial cooperation among CICA Member States was put forward by President of Kazakhstan Kassym-Jomart Tokayev at the Sixth CICA Summit in October 2022 and was broadly supported by CICA Member States.
