ISLAMABAD: Finance Minister Ishaq Dar on Friday reiterated Pakistan’s strong commitment to the Central Asia Regional Economic Cooperation (CAREC) Program to improve connectivity in the region.
He was addressing the 16th CAREC Ministerial Conference in Dushanbe, Tajikistan, says a statement received here.
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 efficient market access, and enhance trade and investment in the region.
The minister said 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 here in October 2016.
The minister also suggested further steps in this regard. He emphasised the importance of collective efforts to enhance regional cooperation and achieve the common goals envisaged under the CAREC Program.
Earlier, President of Tajikistan, 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) Program 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 program is aimed at helping Central Asian and neighbouring countries realize 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 Program are Pakistan, Afghanistan, Azerbaijan, People’s Republic of 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.
