The ancient web of connections that once made the Silk Road indispensable to world trade are making a comeback. Largely unnoticed, countries in Central Asia and South Asia are starting to implement a vision of working together on something just as vital to their economies – energy sharing.
Bold action is required by policy makers and central bankers to keep the region’s economies afloat and contain the pandemic.
The outbreak of the coronavirus (Covid-19) epidemic has substantial economic consequences for the People’s Republic of China, the world, and the CAREC countries.
Ministers from the 11 members of the CAREC Program have endorsed a new strategy designed to improve multimodal transport infrastructure and operations in the region, resulting in greater social and economic development in the next decade.
Source: Asian Development Bank
The CAREC Transport Strategy 2030 builds on progress made and lessons learned from the CAREC Transport and Trade Facilitation Strategy 2020. It separates trade facilitation from transport and links to the overall CAREC 2030 program in the areas of enhanced connectivity and sustainability.
The report recommends strategies to promote diversification and harmonization of cross-border customs and logistics procedures to revitalize agriculture in the CAREC region.
The training introduced basic principles and concept of road asset management system and performance-based contracting, presented best practices and solutions to common problems in road management, and provided guidance on how to design and implement a performance-based contract.
Kyrgyz Republic Prime Minister Muhammedkalyi Abylgaziev chaired the meeting to coordinate the next steps to implement the Almaty-Bishkek Economic Corridor Tourism Master Plan.
Railway specialists reported on progress made in TA implementation, including the findings of rail sector assessments, updates on the traffic modelling, and rail project preparation facility.
Participants deliberated on key challenges and opportunities on promoting sustainable tourism development in the region and initiated discussions for the formulation of the CAREC Tourism Strategy 2030.
- $37.0 billion invested in transport, trade, and energy projects
- From 6 projects worth $247 million in 2001 to 200 projects, as of September 2019
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.