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CAREC stands for Central Asia Regional Economic Cooperation. It is a multi-country partnership aimed at promoting economic growth and development in Central Asia and neighboring regions through cooperation in areas such as transport, trade, energy, and agriculture.
Established in 1997, CAREC brings together 11 member countries, including Afghanistan, Azerbaijan, China, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, Uzbekistan, and Georgia. The program focuses on regional projects that improve connectivity and foster economic integration to benefit the participating countries.
CAREC is supported by several international financial institutions, such as the Asian Development Bank (ADB), which acts as the secretariat. The cooperation under CAREC includes building and upgrading transport corridors, streamlining customs procedures, and developing energy infrastructure to enhance trade and investment.
By working together, CAREC countries aim to reduce trade costs, improve competitiveness, and accelerate economic growth in the region. This regional cooperation plays a vital role in connecting markets, increasing access to resources, and facilitating sustainable development.
Key Points:
Full Form: Central Asia Regional Economic Cooperation
Established: 1997
Members: 11 countries including Pakistan, China, Kazakhstan, and others
Focus Areas: Transport, trade, energy, agriculture
Goal: Promote regional economic growth and integration
Supporting Institution: Asian Development Bank (ADB)
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