ASHGABAT, TURKMENISTAN – Ministers from 10 countries, including Turkmenistan, will discuss ways to promote regional energy trade and promote greater connectivity during the upcoming 11th Central Asia Regional Economic Cooperation (CAREC) Program’s Ministerial Conference, taking place on 29-31 October in Wuhan, Hubei Province, People’s Republic of China (PRC).
The theme of the Ministerial Conference is Implementing CAREC 2020: Vision and Action aimed at furthering the Program’s agenda of regional cooperation and integration.
“Now that CAREC 2020 provides a new strategic framework, the region is well equipped to take another step forward on cooperation and integration,” said Plamen Bozakov, Resident Representative for the Asian Development Bank (ADB) in Turkmenistan.
CAREC promotes development through cooperation in four priority sectors – transport, energy, trade facilitation, and trade policy – leading to accelerated growth and poverty reduction in the region. The CAREC partnership comprises 10 countries – Afghanistan, Azerbaijan, the PRC, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan.
It is supported by six multilateral institutions, including the ADB, the European Bank for Reconstruction and Development, the International Monetary Fund, the Islamic Development Bank, the United Nations Development Program, and the World Bank. ADB has served as the CAREC Secretariat since 2001.
Turkmenistan joined CAREC only in 2010, but has already shown itself to be an effective regional player by actively taking part in CAREC gatherings and promoting the CAREC vision of Good Partners, Good Neighbors and Good Prospects.