The Seventh Regional Economic Cooperation Conference on Afghanistan (RECCA-VII) was concluded with the adoption of a declaration.
RECCA VII Declaration is a concise and action-oriented outcome document serving as a roadmap for the efforts and actions in the next two years under RECCA. Under the declaration, thanked the Government of Turkmenistan for hosting and co-chairing RECCA-VII as an important international gathering in an excellent manner.
The participants acknowledged Afghanistan’s central role as a pivotal hub for regional and inter-regional trade, transit, and transport as well as the role that RECCA is playing in sharing the benefits of this centrality in support of sustainable development and stability in Afghanistan and the wider region. In this context, they expressed appreciation and strong support for the ongoing efforts and commitment of the Government of Afghanistan as well as the continued efforts by regional and partner countries and organizations under RECCA.
The participants also emphasized that RECCA VII builds on the commitments made during the previous six meetings of RECCA (Kabul, 2005; New Delhi, 2006; Islamabad, 2009; Istanbul, 2010; Dushanbe, 2012; Kabul, 2015) as well as the measurable progress made with respect to the implementation of the priority projects in areas such as energy; transport networks; trade and transit facilitation, communications and business-to-business partnerships and labor support;
Under RECCA VII Declaration, the participants also supported RECCA’s new approach to project implementation including new investment criteria such as the bankability of the projects as well as the diversification of fund mobilization and pursuing innovative financing modalities for infrastructure development, including public private partnership and power purchase agreements, with a view to address the investment deficit;
The participants, under RECCA VII Declaration, welcomed the measurable progress made regarding the priority projects under RECCA and stated their commitment towards the implementation of the respective regional cooperation and investment projects and their associated deliverables as listed in the declaration.
Finally, participants stated that they will work collectively to address the implementation bottlenecks, including through a strengthened network of RECCA National Focal Points and will strive to achieve the above deliverables including through i) the organization of Investment Road Shows and Regional Business Forums; ii) the preparation of Bankable Projects Briefs for Public and Private Investors; iii) entering RECCA into new strategic partnerships with other regional bodies and initiatives and bringing greater synergy among them; iv) bringing synergy among various transport and transit corridors in the wider RECCA region; v) preparation of the RECCA Annual Reviews; vi) strengthening research capacity under RECCA and vii) transforming the RECCA Website into an interactive web-portal for real-time regional investment promotion and knowledge sharing;
The RECCA VII Declaration also supported the operationalization of the RECCA Chamber of Commerce; the women’s economic empowerment activities under RECCA as well as the establishment of a Center for Research and Evaluation in the framework of RECCA.