BAKU, Azerbaijan, November 3. The Central Asia Regional Economic Cooperation (CAREC) Program is helping countries strengthen transport connectivity, facilitate trade and improve resilience, Asad Aleem, ADB Regional Head for Regional Cooperation and Integration in the Central and West Asia Region, said in a video message.
He noted that regional cooperation had become increasingly important amid growing geopolitical uncertainty and global fragmentation.
According to Aleem, ADB's regional initiatives, particularly the CAREC Program, have helped participating countries improve transport links, modernize border crossing points and develop economic corridors.
"Stronger regional connectivity has helped keep trade flowing and essential supplies moving during crises, including the COVID-19 pandemic. CAREC is also helping countries strengthen resilience and financial preparedness through innovative regional disaster risk financing solutions," he said.
He emphasized that a shared vision, policy dialogue and knowledge exchange enable countries to coordinate their planning, investments and responses to common challenges.
Such cooperation helps countries become more resilient, adaptable and better prepared for future shocks, he added.
The Central Asia Regional Economic Cooperation (CAREC) Program is a partnership of 11 countries - Afghanistan, Azerbaijan, the People’s Republic of China, Georgia, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan and Uzbekistan - working with development partners to promote regional economic growth and poverty reduction. Established in 1997 and guided by the vision of "Good Neighbors, Good Partners, and Good Prospects," the program is supported by the Asian Development Bank (ADB), which serves as the CAREC Secretariat. Since 2001, CAREC has mobilized more than $60 billion in investments, of which approximately $20 billion has been financed by ADB, primarily in transport, energy, trade facilitation and economic corridor development under the CAREC 2030 strategic framework.
