Free economic zones that can be transformed into clusters of highly competitive traded firms can contribute significantly to industrial diversification and regional development of the Kyrgyz Republic. This strategic framework outlines strategies and policies for leveraging them to enhance productivity and promote regional development.
Representatives from five Central Asian countries deliberated on issues under the CAREC Integrated Trade Agenda (CITA) 2030 for improved market access, economic diversification, and stronger institutions for trade.
CAREC member countries can capitalize on new regional and international development dynamics, including the Belt and Road Initiative (BRI), to strengthen regional infrastructure, boost trade, and reduce poverty, according to participants at a high-level Asian Development Bank (ADB) seminar.
Source: Asian Development Bank
The meeting reviewed the implementation progress of the Transport and Trade Facilitation Strategy 2020 and the Transport Sector Work Plan (2017–2019), discussed issues of key importance to the transport sector, and examined new opportunities for the transport sector under CAREC 2030.
From a modest start in 2001, the number and value of CAREC projects—including loans, grants, and technical assistance—have grown rapidly. As of December 2017, more than $31.5 billion has been invested in transport, trade facilitation, and energy projects.
Developing economic corridors is a priority for the CAREC Program, which has funded infrastructure connectivity among member countries for more than a decade. As CAREC member countries become more developed and connected to each other, they can benefit by cooperating at a higher level by linking markets, ideas, and people.
The CAREC team presented the project findings with proposed policy toolkits and specific recommendations to improve the performance of Kyrgyz Republic's free economic zones and industrial parks, as well as international best practice and other country cases.
The workshop concluded with a set of actions to facilitate improvement of border crossing points management, infrastructure, and transit experience for citizens and tourists between Almaty and Bishkek.
The session, held during the Global Challenges Summit 2018 at the Astana Economic Forum, highlights the role of the private sector and how that strategy can create a bigger and business-friendly market through trade and investment.
The purpose of this forum is to exchange experiences regarding the design and implementation of post-crisis macroeconomic policies, and identify successful strategies to mitigate the impact of future economic crisis, protect financial and economic stability, and promote sustained growth going forward.
Senior PRC officials from trade-related agencies acknowledged the alignment of the CAREC Integrated Trade Agenda with PRC’s open trade thrust and shared vision with the Belt and Road Initiative.
- More than $31.5 billion invested in transport, trade facilitation, and energy projects
- From 6 projects in 2001 to 185 projects, as of December 2017
The Central Asia Regional Economic Cooperation (CAREC) Program focuses investment and other activities on developing the six competitive transport corridors that link north, south, east, and west throughout Central Asia. Since 2001, CAREC has invested at more than $19 billion in transport projects along 6 corridor routes.
The six member countries of the Central Asia Regional Economic Cooperation (CAREC) Program are working together to move people, goods, and vehicles across borders faster, more efficiently, and at least cost. Since 2002, CAREC has mobilized around $268 million for projects that support growth in trade.
The Central Asia Regional Economic Cooperation (CAREC) Program aims to secure energy through the balanced development of the region's energy infrastructure, stronger integration of energy markets, and economic growth through energy trade. Since 2001, CAREC has invested more than $5.2 billion in 37 projects, mostly aimed at expanding bilateral electricity trade and improving the regional power network.