Inaugural Meeting of the CAREC Regional Trade Group

The Inaugural Meeting of the CAREC Regional Trade Group (RTG) brought together more than 60 representatives from 11 CAREC member countries, development partners (Asian Development Bank (ADB), International Monetary Fund, CAREC Institute, United Nations Economic and Social Commission for Asia and the Pacific, and World Customs Organization), CAREC Federation of Carrier and Forwarder Associations, and international experts.

The meeting was held in conjunction with the CAREC Senior Officials’ Meeting.

Delegates deliberated on the framework and scope of the CAREC Integrated Trade Agenda (CITA) 2030 and its accompanying Rolling Strategic Action Plan 2018-2020. The CITA aims to assist CAREC countries in integrating further with the global economy through (i) trade expansion from increased market access, (ii) greater diversification, and (iii) stronger institutions for trade.

Ezizgeldi Annamuhammedov, deputy minister of finance and economy, Turkmenistan and Hong Wei, deputy director general, Central and West Asia Department (CWRD), ADB co-chaired the meeting. Ying Qian, director, Public Management, Financial Sector, and Regional Cooperation Division, East Asia Department, ADB presented the draft RTG Terms of Reference, and the progress and deliverables of trade sector for the 17th Ministerial Conference on CAREC in November 2018.

The CAREC RTG was established to discuss and deliberate on the increasingly intertwined issues of trade policy and trade facilitation in a synergistic manner as well as the broader trade agenda under CAREC 2030.