Central Asia Regional Economic Cooperation (CAREC) Program
In the Spotlight
ADB President Takehiko Nakao met with Prime Minister Saikhanbileg Chimed, Minister of Finance Bolor Bayarbaatar, and other senior officials, and attended the 14th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference.
As a connecting link between Europe and East Asia, Central Asia is set to reap the benefits of burgeoning trade between the two economic giants.
Standing at the crossroads of east and west, the countries of Central Asia and the South Caucasus have seen a surge in growth and investor interest in recent years, accompanied by a steady rise in cross-border transport, trade, and energy cooperation. Read more.
The Central Asia Regional Economic Cooperation Institute was launched in Urumqi, Xinjiang Uygur Autonomous Region on 2 March 2015. It is envisioned to become a knowledge hub for economic cooperation. Read the speech by ADB Vice-President Wencai Zhang.
The Central Asia Regional Economic Cooperation, or CAREC, Program is a partnership of 10 countries (Afghanistan, Azerbaijan, People's Republic of China, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan), supported by 6 multilateral institutions, working together to promote development through cooperation, leading to accelerated growth and poverty reduction.
The Program's long-term vision is Good Neighbors, Good Partners, and Good Prospects.
With the rapid economic expansion of the People's Republic of China and Japan to the east, the Russian Federation to the north, and India and Pakistan to the south, there is unprecedented opportunity for CAREC countries to emerge as a center of trade and commerce, achieve higher levels of economic growth, and reduce poverty.
CAREC helps Central Asia and its neighbors realize their significant potential by promoting regional cooperation in four priority areas: Transport; Trade Facilitation; Energy, and Trade Policy.