Media Center

News Release

ADB Conducts Presentation Of CAREC Committee On Trade Policy

BAKU, AZERBAIJAN (28 September 2006) - ADB conducted a workshop to promote awareness of analytical work carried out in member countries of Central Asia Regional Economic Cooperation (CAREC) countries by CAREC's Trade Policy Coordinating Committee (TPCC).

The key findings of the committee in identifying opportunities and constraints for the development of trade in CAREC member countries were discussed with key stakeholders, including government agencies, donor, and private sector representatives. The TPCC summary paper and presentations are available at http://adb.org/Carec/trade-policy.asp.

TPCC was formed to help CAREC member countries to adopt more open trade regimes, coordinate their trade policies, and facilitate both intra- and inter-regional trade. TPCC aims to help the countries assess current trade policies and trade policy initiatives, address various trade agreements in the region and trade liberalization in the context of the World Trade Organization (WTO), and assist countries to accede to the WTO.

"International trade generally fosters economic growth by improving allocation of resources, enhancing competition, and disciplining policy makers," says Philip Chang, ADB's country economist to Azerbaijan. "ADB is therefore pleased to assist Azerbaijan in strengthening its trade policy as well as WTO accession."

The CAREC Program was initiated in 1997 to improve living standards and to reduce poverty in its member countries through more efficient and effective regional economic cooperation. To date, the program has focused on financing infrastructure projects and improving the region's policy environment in the priority areas of transport, energy, trade policy and trade facilitation. As of early 2006, CAREC participating countries consist of Afghanistan, Azerbaijan, People's Republic of China, Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan, and Uzbekistan.