SESRIC and the Center for Analysis of Economic Reforms and Communication (CAERC) of the Republic of Azerbaijan formalized their partnership with a Memorandum of Understanding (MoU). The ceremony took place at the Headquarters of CAERC in Baku, Republic of Azerbaijan.

The MoU was signed by H.E. Zehra Zümrüt SELÇUK and H.E. Prof. Dr. Vusal GASIMLI, Executive Director of CAERC. This event not only symbolizes a significant milestone but also reaffirms the dedication of both institutions to enhancing the socioeconomic welfare within the OIC Countries.

During the ceremony, H.E. SELÇUK emphasized the importance of this collaboration, noting SESRIC's role in serving the Islamic world through its mandate areas of statistics, research, training, and technical cooperation. She lauded CAERC's expertise in economic analysis and reforms and the Government of Azerbaijan’s commitment to inclusive economic growth.

The MoU establishes a framework to foster a mutually beneficial collaboration, leveraging the collective knowledge, technical expertise, and innovative ideas of both institutions. It aims to create an inclusive environment for collaborative projects and capacity-building initiatives, empowering member countries to address socioeconomic challenges and seize development opportunities.

The event, held on the sidelines of the 5^th Session of the Islamic Conference of Labour Ministers (ICLM), highlights the power of Intra-OIC cooperation in fostering progress and prosperity. The collaboration aligns with SESRIC's commitment to the OIC-2025 Programme of Action and the 2030 Agenda for Sustainable Development Goals.

Founded by a presidential decree dated 20 April 2016, CAERC's objectives include developing proposals for economic reforms based on analytical data, conducting macro and micro-economic level research to ensure sustainable economic development, and providing government authorities with forecasts and data.

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