CAREC agrees on $23bn action plan to boost Central Asia links

[A.Rafay]

ISLAMABAD: Ministers of the 10 Central Asia Regional Economic Cooperation (CAREC) programme nations have agreed on an action plan to implement more than $23 billion in new regional transport infrastructure projects, together with energy and trade initiatives aimed at creating seamless connectivity and greater prosperity in the region.

The Wuhan Action Plan, unveiled at the ministers’ meeting on Tuesday, prioritises 68 transport projects that would contribute to six major corridors linking the ports in eastern People’s Republic of China (PRC) with the Caucasus and beyond and connecting northern Kazakhstan to the trading hubs in Gwadar and Karachi in Pakistan.

This will be complemented by efforts to improve border and customs services to allow people and goods to move easily between nations. In addition, CAREC nations aim to raise funds to build and improve energy assets, according to meeting details received from China and released on Tuesday.

Regional cooperation is essential to promote inclusive and environmentally sustainable growth, Asian Development Bank (ADB) President Haruhiko Kuroda said at the 11th CAREC Ministerial Conference.

Poor connectivity arising from inadequate transport and communications infrastructure can impede trade expansion and investment attraction.

Representatives from CAREC multilateral institution partners-ADB, European Bank for Reconstruction and Development, the International Monetary Fund, the Islamic Development Bank, the United Nations Development Programme, and the World Bank and bilateral donor agencies from France, Japan, United Kingdom and the United States pledged support for the Wuhan Action Plan.

The Ministers representing Afghanistan, Azerbaijan, the PRC, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan and Uzbekistan, also agreed to establish a base for the CAREC Institute in the region by 2014 to support strategic projects through analytical work, training and knowledge management.

Since 2001, the CAREC region has seen over $19 billion in investments in over 120 projects including almost 4,000 kilometers (km) of roads, 3,200 km railways and more than 2,300 km power transmission lines.

ADB has acted as the CAREC Secretariat since the grouping was formed in 2001. ADB based in Manila is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth and regional integration.

Established in 1966, it is owned by 67 members, 48 from the region. In 2011 ADB approvals including co-financing totaled $21.7 billion.

Daily Times - Leading News Resource of Pakistan

 

[TVVELVEMO$]

It was in 2010 that Pakistan joined this club of Central Asian/Caucasian States. Yet she has not secured a single worthwhile project funding through this very powerful mechanism. Who is sleeping on the job?

Few suggestions:
Pakistan ought to be able to get financing for
^ Chitral Tunnel (lowari top)
^ Tajik-Afghan-Chitral Hwy (via Ishkashim)
^ A parallel railway track
^ Transmission line from Tajikistan
^ Connectivity with Pak ports-Gwadar/Qasim/KHI

These are all doable projects, so what is the hold up?
Waiting for China to come and bake,cook, & serve Paks a warm dish all prepared? Come on!

Even puny Afghanistan & Tajikistan have gained more out of this....

 

[somebozo]

Good.. better road communications means more trade and less terrorism! And as Pakistan makes it way into central Asia, it will bring us closer to our identity and solve a number of social crisis we are facing. Russia will also be motivated to accept the new face of rising Pakistan which is more trade and business oriented than terrorist and talibans! Ushering a new era in relations with India and Afghanistan as goods are transited across the region and create jobs for Pakistanis.