| 1997 (1997)|
| Asian Development Bank|
| Mandaluyong City, Metro Manila, Philippines|
Afghanistan, Azerbaijan, People’s Republic of China, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan
The Central Asia Regional Economic Cooperation (CAREC) Program is a program established in 1997 by the Asian Development Bank (ADB) to encourage economic cooperation among countries in the Central Asian region. In particular, cooperation among the ADB member states of Afghanistan, Azerbaijan, People's Republic of China, Kazakhstan, Kyrgyz Republic, Mongolia,Pakistan, Turkmenistan, Tajikistan, and Uzbekistan.
The CAREC program has focused to date on financing infrastructure projects and improving the region's policy environment in the priority areas of transport (especially road transport), energy (including the water-energy nexus), trade policy, and trade facilitation (especially customs cooperation). As of 31 December 2004, the ADB had approved seven regional investment projects totaling $275.1 million, mobilized cofinancing of $135.2 million for three of these projects, and approved 22 technical assistance grants totaling $12.9 million. In 2005-2006, investment projects totaling $247 million and technical assistance grants are planned totaling $12.3 million.
Central Asia Regional Economic Cooperation Program Wikipedia
The Central Asia Regional Economic Cooperation (CAREC) Program was initiated in 1997. CAREC’s goal is to improve living standards and to reduce poverty in CAREC countries through more efficient and effective regional economic cooperation. To date, the Program has focused on financing infrastructure projects and improving the region's policy environment in the priority areas of: (i)transport, (ii) energy, (iii) trade policy, and (iv) trade facilitation. These areas are critical to improving the region’s economic performance and livelihoods of the people, especially of the poor.
Spanning nearly 4,000 kilometres across Central Asia, the CAREC Program includes 10 countries in the Central Asia region, namely:Afghanistan
China (focusing on Xinjiang Uygur Autonomous Region)
In addition, invitations to participate are under consideration by Turkmenistan and Russian Federation.
CAREC is also an alliance of multilateral institutions active in promoting economic cooperation in Central Asia, comprising Asian Development Bank, European Bank for Reconstruction and Development, International Monetary Fund, Islamic Development Bank, United Nations Development Programme, and World Bank. ADB’s CAREC Unit (CARECU) has served as the Program Secretariat since March 2000. CAREC operates in partnership with other key regional cooperation programs and institutions, including the Shanghai Cooperation Organization (SCO) and the Eurasian Economic Community.
CAREC is a powerful platform to marshal financial resources. The combined assistance of the multilateral institutions in the priority areas of transport, energy and trade during 2006-2008 totals $2.3 billion for 42 projects. It represents a robust development partnership and concrete example of countries and institutions cooperating.
Since 2001, ministerial conferences are organized annually:2011 – Baku: At the 10th CAREC gathering in Baku, Azerbaijan, in November 2011, ministers endorsed a 10-year framework for the region, titled CAREC 2020: 10-year Strategic Framework for the CAREC Programme.
2012 – Wuhan: held from Oct. 29 to Oct. 30 in Wuhan, capital city of central China’s Hubei Province. The ministers discussed how to implement CAREC 2020: Vision and actions. Negotiations concentrated on development of road, railways and cross border connections to facilitate trade and transport through the region. The 10 ministers agreed on a plan to implement more than US $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.
2013 – Astana: held from Oct. 23 to Oct. 24 in Astana, capital of Kazakhstan. The Ministers supported the refined CAREC Transport and Trade Facilitation Strategy 2020, and endorsed the revised Trade Policy Strategic Action Plan 2013-2017. It was also agreed to host the physical base of the CAREC Institute in Urumqi, Xinjiang Uygur Autonomous Region
2014 – Kyrgyzstan: 13th CAREC Ministerial Conference will be held in Kyrgyzstan (no further information is available as of February 2014).
2016 – Islamabad: The 15th ministerial meeting of the Central Asia Regional Economic Cooperation (CAREC) program was held in Islamabad, Pakistan. The CAREC ministerial meeting had formally adopted Georgia as its 11th member.
A 75-kilometer stretch of railway line connecting the Afghan city of Mazar-e-Sharif to the country's bustling northern border with Uzbekistan opened in December 2011, reducing trade bottlenecks, boosting commerce, and speeding the flow of much-needed humanitarian assistance.
A $250 million loan-agreement on the ‘Regional Improvement of Border Services’ between Pakistan and ADB to improve border management facilities at Torkham, Chaman and Wagah under the auspices of CAREC was signed during the 15th CAREC ministerial meeting.