Central Asia Regional Economic Cooperation

  • IASbaba
  • January 20, 2023
  • 0
International Relations
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Context: According to Asian Development Bank (ADB) ’s working paper, the Central Asia Regional Economic Cooperation (CAREC) region faces severe food safety challenges due to fractured safety control systems.

About Central Asia Regional Economic Cooperation:

  • The Central Asia Regional Economic Cooperation (CAREC) Program is a partnership of 11 countries and development partners working together to promote development through cooperation, leading to accelerated economic growth and poverty reduction.
  • It is guided by the overarching vision of “Good Neighbours, Good Partners, and Good Prospects.”
  • The program is a proactive facilitator of practical, results-based regional projects, and policy initiatives critical to sustainable economic growth and shared prosperity in the region.
  • Since its inception in 2001 and as of December 2021, CAREC has mobilized $41 billion in investments that have helped establish multimodal transportation networks, increased energy trade and security, facilitated free movement of people and freight, and laid the groundwork for economic corridor development.
  • CAREC 2030 provides the new long-term strategic framework for the program leading to 2030.
  • It is anchored on a broader mission to connect people, policies and projects for shared and sustainable development, serving as the premier economic and social cooperation platform for the region.
  • Member countries includes Afghanistan, Azerbaijan, People’s Republic of China, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan and Uzbekistan.

MUST READ:  Asian Development Bank

Source: DownToEarth


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