Central Asia Regional Economic Cooperation (CAREC)

[Sabawoon_Noorzai]

Central Asia Regional Economic Cooperation (CAREC) Program

The Central Asia Regional Economic Cooperation, or CAREC, Program is a partnership of 10 countries, 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.

Priority areas

CAREC helps Central Asia and its neighbors realize their significant potential by promoting regional cooperation in four priority areas:

Transport
Trade Facilitation
Energy
Trade Policy
Participating countries

The 10 participating countries in CAREC are:

Afghanistan (joined CAREC in 2005)
Azerbaijan (2002)
People's Republic of China (1997)
Kazakhstan (1997)
Kyrgyz Republic (1997)
Mongolia (2002)
Pakistan (2010)
Tajikistan (1998)
Turkmenistan (2010)
Uzbekistan (1997)
Multilateral institution partners

CAREC’s 6 multilateral institution partners are:

Asian Development Bank (ADB)
European Bank for Reconstruction and Development (EBRD)
International Monetary Fund (IMF)
Islamic Development Bank (IsDB)
United Nations Development Programme
World Bank

Central Asia Regional Economic Cooperation (CAREC) Program | Asian Development Bank

 

[Sabawoon_Noorzai]

What do you Paskistanis think of CAREC?

We in Afghanistan are looking to join TRACECA too. This will help us diversify our trade-transit route, particularly will initially alternate Pakistan with regards to our Europe and U.S. bound trade. Afghanistan should definitely look northward both within the formats of CAREC and TRACECA which inevitably will open new vistas and opportunities for trade and commerce, and if need to be through this we can lessen our reliance on Pakistan if our relations does not normalize.

 

[Sabawoon_Noorzai]

Central Asia Regional Economic Cooperation (CAREC) Program