Central Asia Regional Economic Cooperation (CAREC) Program
In the Spotlight
ADB approved a $100 million loan for a highway project in Pakistan that will mark its first cofinancing with the Asian Infrastructure Investment Bank (AIIB). The project is an integral part of the Central Asia Regional Economic Cooperation (CAREC) corridors.
The workshop, “Modernizing Sanitary and Phytosanitary Measures to Expand Trade and Ensure Food Safety: Sharing the Baltic Experience,” focused on best practices in the area of integrated trade facilitation, one of the priorities under the refined CAREC Trade and Transport Facilitation Strategy 2020.
In 2015, Central Asian countries made strides improving the environment for cross-border e-commerce in the region.
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.