–Dar reiterates commitment to improving regional connectivity
ISLAMABAD: Finance Minister, Senator Mohammad Ishaq Dar, participated in the 16th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference in Dushanbe, Tajikistan on Friday.
During his address to the Conference, the finance minister reiterated Pakistan’s strong commitment to the CAREC Programme to improve connectivity in the region. Highlighting the geo-strategic location of Pakistan, the minister emphasised Pakistan’s role as a facilitator for connecting the regions of South Asia and Central Asia, in order to enable effective market access, and enhance trade and investment in the region. The minister said that Pakistan supports CAREC’s areas of focus in the sectors of energy, trade and transportation network. He also acknowledged the assistance of the Asian Development Bank (ADB) in augmenting these initiatives.
The finance minister endorsed the new CAREC Strategy 2030, on behalf of the government of Pakistan. He appreciated ADB’s leadership and efforts for including the areas of cooperation offered by the prime minister of Pakistan during the previous CAREC Ministerial Conference held in Islamabad in October 2016. Dar also suggested further steps in this regard. He emphasised the importance of collective efforts to enhance regional cooperation and to achieve the common goals envisaged under the CAREC Programme.
Earlier, Tajikistan President Emomali Rahmon inaugurated the Ministerial Conference. In his address, he voiced his support for regional cooperation and integration and assured of all-out support to implement the CAREC 2030 Strategy.
It may be noted that the Central Asia Regional Economic Cooperation (CAREC) Programme is a partnership of 11 countries and 6 multilateral development partners working to promote development through cooperation, leading to accelerated economic growth and poverty reduction.
The programme is aimed at helping Central Asian and neighbouring countries realise their potential by promoting and facilitating regional cooperation in the priority areas of transport, trade facilitation, trade policy, and energy. The 11 countries partnering in the CAREC programme are Pakistan, Afghanistan, Azerbaijan, China, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan, Turkmenistan, and Uzbekistan. The 6 multilateral development partners of CAREC include the Asian Development Bank (ADB), European Bank for Reconstruction and Development, International Monetary Fund, Islamic Development Bank, United Nations Development Programme, and the World Bank.
ADB serves as the CAREC Secretariat.
