Central Asia Regional Economic Cooperation (CAREC) Program
In the Spotlight
ADB President Commits More Than $5 Billion to Support New Strategy for Central Asia Regional Economic Cooperation
The 16th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference was held in Dushanbe on 27 October 2017. CAREC Ministers from 11 member countries unanimously endorsed CAREC 2030, a new long-term strategy that will take the CAREC program to its third decade of operations.
At the inaugural ceremony of the CAREC Institute, ADB President Takehiko Nakao expressed confidence in the important role the new intergovernmental organization would play in the development of the CAREC program, as regional cooperation efforts among member countries enter a new phase.
ADB Vice-President Wencai Zhang reaffirms that ADB will continue to support the Government of Kazakhstan’s development agenda and is exploring new ways of engaging with the country, including public-private partnerships, blended finance, and other innovative financing approaches.
A smooth transport connection from Baku to the Georgian border means faster, safer, and more efficient travel, and improved lives in communities along the way.
The Central Asia Regional Economic Cooperation, or CAREC, Program is a partnership of 11 countries (Afghanistan, Azerbaijan, People's Republic of China, Georgia, 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.