Central Asia Regional Economic Cooperation Program

Last updated
Central Asia Regional Economic Cooperation (CAREC) Program
Type Economic corridor
Founded1997 (1997)
Headquarters,
Area served
Afghanistan, Azerbaijan, People’s Republic of China, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan
Parent Asian Development Bank
Website www.carecprogram.org

The Central Asia Regional Economic Cooperation (CAREC) Program is a program established in 1997 by the Asian Development Bank (ADB) to encourage economic cooperation among countries in Central Asia and nearby parts of Transcaucasia and South Asia.

Contents

CAREC Member countries

The 11 CAREC Member countries are: [1]

Multilateral Institution Partners

CAREC has six multilateral institutions partners:

Ministerial Conferences

CAREC holds an annual ministerial conference. [3]

See also

Related Research Articles

Asian Development Bank Regional development bank

The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. The company also maintains 31 field offices around the world to promote social and economic development in Asia. The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific and non-regional developed countries. From 31 members at its establishment, ADB now has 68 members.

Foreign relations of Kazakhstan Overview of the foreign relations of Kazakhstan

Foreign relations of Kazakhstan are primarily based on economic and political security. The Nazarbayev administration has tried to balance relations with Russia and the United States by sending petroleum and natural gas to its northern neighbor at artificially low prices while assisting the U.S. in the War on Terror. Kazakhstan is a member of the United Nations, Organization for Security and Co-operation in Europe, North Atlantic Cooperation Council, Commonwealth of Independent States, the Shanghai Cooperation Organisation, and NATO's Partnership for Peace program. Kazakhstan established a customs union with Russia and Belarus, transformed into the Eurasian Economical Community then in 2015 into the Eurasian Economic Union. President Nazarbayev has prioritized economic diplomacy into Kazakhstan's foreign policy.

Economy of Kyrgyzstan National economy

The economy of Kyrgyzstan is heavily dependent on the agricultural sector. Cotton, tobacco, wool, and meat are the main agricultural products, although only tobacco and cotton are exported in any quantity. According to Healy Consultants, Kyrgyzstan's economy relies heavily on the strength of industrial exports, with plentiful reserves of gold, mercury and uranium. The economy also relies heavily on remittances from foreign workers. Following independence, Kyrgyzstan was progressive in carrying out market reforms, such as an improved regulatory system and land reform. In 1998, Kyrgyzstan was the first Commonwealth of Independent States (CIS) country to be accepted into the World Trade Organization. Much of the government's stock in enterprises has been sold. Kyrgyzstan's economic performance has been hindered by widespread corruption, low foreign investment and general regional instability. Despite political corruption and regional instability, Kyrgyzstan is ranked 70th on the ease of doing business index.

Foreign relations of Kyrgyzstan Overview of the foreign relations of Kyrgyzstan

Kyrgyzstan favors close relations with other members of the Commonwealth of Independent States, particularly Kazakhstan and Russia.

Kyrgyzstan Country in Central Asia

Kyrgyzstan, officially the Kyrgyz Republic, also known as Kirghizia, is a landlocked country in Central Asia. It is bordered by Kazakhstan, Uzbekistan, Tajikistan, and China. Its capital and largest city is Bishkek.

South Asian Association for Regional Cooperation Intergovernmental organization

The South Asian Association for Regional Cooperation (SAARC) is the regional intergovernmental organization and geopolitical union of states in South Asia. Its member states are Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka. The SAARC comprises 3% of the world's area, 21% of the world's population and 4.21% of the global economy, as of 2019.

Economic Cooperation Organization

The Economic Cooperation Organization or ECO is an Asian political and economic intergovernmental organization which was founded in 1985 in Tehran by the leaders of Iran, Pakistan, and Turkey. It provides a platform to discuss ways to improve development and promote trade and investment opportunities. The ECO is an ad hoc organisation under the United Nations Charter. The objective is to establish a single market for goods and services, much like the European Union. The ECO's secretariat and cultural department are located in Iran, its economic bureau is in Turkey and its scientific bureau is situated in Pakistan.

Foreign relations of the European Union Overview of the foreign relations of the European Union

Although there has been a large degree of integration between European Union member states, foreign relations is still a largely intergovernmental matter, with the 27 members controlling their own relations to a large degree. However, with the Union holding more weight as a single bloc, there are at times attempts to speak with one voice, notably on trade and energy matters. The High Representative of the Union for Foreign Affairs and Security Policy personifies this role.

Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation of seven nations of South Asia and Southeast Asia, housing 1.5 billion people and having a combined gross domestic product of $3.5 trillion (2018). The BIMSTEC member states – Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand – are among the countries dependent on the Bay of Bengal.

Greater Mekong Subregion Trans-national region of the Mekong River in Southeast Asia

The Greater Mekong Subregion, (GMS) or just Greater Mekong, is a trans-national region of the Mekong River basin in Southeast Asia. The region is home to more than 300 million people. It came into being with the launch of a development program in 1992 by the Asian Development Bank that brought together the six Asian countries of Cambodia, China, Laos, Myanmar (Burma), Thailand, and Vietnam.

The Foundation for Tolerance International is a Kyrgyz non-governmental organization (NGO) founded in 1998 to prevent conflict and build peace and justice in Central Asia. It has operated for nine years in a fluid and changing context, but it has remained focused on its original goals of conflict prevention on a range of vertical and horizontal conflicts. FTI’s work is focused on two main directions:

China–Kyrgyzstan relations Diplomatic relations between the Peoples Republic of China and the Kyrgyz Republic

As of 1996, China–Kyrgyzstan relations were an area of substantial uncertainty for the government in Bishkek. The free-trade zone in Naryn attracted large numbers of Chinese businesspeople, who came to dominate most of the republic's import and export of small goods. Most of this trade is in barter conducted by ethnic Kyrgyz or Kazakhs who are Chinese citizens. The Kyrgyzstani government had expressed alarm over the numbers of Chinese who were moving into Naryn and other parts of Kyrgyzstan, but no preventive measures had been taken as of 1996.

Kazakhstan–Kyrgyzstan relations Diplomatic relations between the Republic of Kazakhstan and the Kyrgyz Republic

Kazakhstan–Kyrgyzstan relations refers to the bilateral diplomatic relations between the Republic of Kazakhstan and the Kyrgyz Republic. Bilateral relationships between the countries, which share a border, are very strong and Kyrgyz and Kazakh are very close in terms of language, culture and religion. Kyrgyz-Kazakh relationships have always been at very high level and economic and other formal unification of two countries have been greeted with strong appreciation by both nations since the two share a lot in common.

South–South cooperation is a term historically used by policymakers and academics to describe the exchange of resources, technology, and knowledge between developing countries, also known as countries of the Global South. The Global South is making increasingly significant contributions to global development. The economic and geopolitical relevance of many countries has grown. In the past, south-south cooperation focused on sharing knowledge and building capacities, but the countries of the Global South and new financial institutions have recently also become increasingly active in development finance.

India–Kyrgyzstan relations Diplomatic relations between the Republic of India and the Kyrgyz Republic

India–Kyrgyzstan relations is the relation between India and Kyrgyzstan.

Eurasian Development Bank

The Eurasian Development Bank (EDB) is a regional development bank established by the Russian Federation and the Republic of Kazakhstan in 2006. It has six member states located in both Asia and Europe, including Armenia, Belarus, Kyrgyzstan, and Tajikistan. Other states and international organisations are able to become members by signing up to the bank's founding agreement.

South Asia Subregional Economic Cooperation

The South Asia Subregional Economic Cooperation (SASEC) Program, set up in 2001, brings together Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, and Sri Lanka in a project-based partnership to promote regional prosperity by improving cross-border connectivity, boosting trade among member countries, and strengthening regional economic cooperation. As of June 2020, SASEC countries have implemented 61 regional projects worth over $13 billion in the energy, transport, trade facilitation, economic corridor development, and information and communications technology (ICT) sectors. The Manila, Philippines-based Asian Development Bank (ADB) serves as the Secretariat for the SASEC member countries.

Science and technology in Kyrgyzstan examines government efforts to develop a national innovation system and the impact of these policies.

Science and technology in Tajikistan examines government efforts to develop a national innovation system and the impact of these policies.

Khyber Pass Economic Corridor (KPEC) is an infrastructure project that aims to expand Pakistan's economic connectivity with Afghanistan, and by extension Central Asia, via the Khyber Pass. The project was approved for construction in December 2019 by Pakistan and the World Bank at an expenditure of $482.75 million.

References

  1. "The CAREC Countries". CAREC. Archived from the original on 2017-08-09. Retrieved 2017-08-09.
  2. "Building Cooperation through Collaboration". CAREC. Archived from the original on 9 August 2017. Retrieved 9 August 2017.
  3. "Central Asia Regional Economic Cooperation (CAREC) Program". www.carecprogram.org. Archived from the original on 2017-08-08. Retrieved 2017-08-08.
  4. "10th Ministerial Conference on Central Asia Regional Economic Cooperation". CAREC. Archived from the original on 8 August 2017. Retrieved 9 August 2017.
  5. "11th Ministerial Conference on Central Asia Regional Economic Cooperation (CAREC)". CAREC. Archived from the original on 8 August 2017. Retrieved 9 August 2017.
  6. "EVENTS 12th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference". CAREC. Archived from the original on 8 August 2017. Retrieved 9 August 2017.
  7. "13th CAREC Ministerial Conference". CAREC. Archived from the original on 8 August 2017. Retrieved 9 August 2017.
  8. "14th CAREC Ministerial Conference". CAREC. Archived from the original on 8 August 2017. Retrieved 9 August 2017.
  9. "15th CAREC Ministerial Conference". CAREC. Archived from the original on 8 August 2017. Retrieved 9 August 2017.
  10. "16th CAREC Ministerial Conference". CAREC. Retrieved 9 August 2017.