CICA countries discuss cross-border investment at Astana summit

Asian countries are exploring ways to increase investment and facilitate cross-border financing as digital technologies transform financial markets. These issues were the main focus of the first CICA Financial Summit, held in Astana with representatives from 16 member states taking part.

The summit marked the launch of a new financial cooperation platform within CICA. The platform is led by the Astana International Financial Centre Authority in the 28-country forum, which includes China, India, Russia, Türkiye, Iran, Israel, the Gulf states and Central Asian countries. Azerbaijan’s Ministry of Finance serves as the platform’s co-chair.

Kazakhstan proposed establishing the CICA Financial Summit in 2022. The platform became operational during Azerbaijan’s chairmanship of CICA. More than 5,200 companies from CICA member states are currently registered at the Astana International Financial Centre.

The countries put forward various proposals to strengthen financial ties. China proposed using the resources of the China-Eurasia Economic Cooperation Fund to finance projects in new energy, water supply and healthcare.

India presented its experience in digital payments and cybersecurity. The country’s