“Enhancing the subregion’s connectivity, promoting trade and investment across borders, and improving access to external markets will help improve the prospects of the subregion as a whole,” Asian Development Bank President Takehiko Nakao said during the 14th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference.
In a joint statement, CAREC Ministers noted progress made in the four priority sectors. On transport and energy, they commended investment projects in road and railway construction to develop transport corridors as well as new support for clean energy and energy efficiency technologies. In trade facilitation there has been progress on linking customs cooperation with transport infrastructure. On trade policy, they noted to date, five CAREC countries have acceded to WTO, with Kazakhstan expected to accede by end of this year.
Cumulatively, the CAREC Program has mobilized USD 28.3 billion of investments since it was set up in 2001, of which ADB accounts for more than USD 10 billion.
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