CAREC Ministers agree on $23 bln action plan to boost Central Asia links
"Poor connectivity arising from inadequate transport and communications infrastructure can impede trade expansion and investment attraction," Haruhiko Kuroda added.
Wuhan. October 31. Kazakhstan Today - Ministers of the 10 Central Asia Regional Economic Cooperation (CAREC) Program nations have agreed on a plan to implement more than $23 billion in new regional transport infrastructure projects, together with energy and trade initiatives, aimed at creating seamless connectivity and greater prosperity in the region.
"Regional cooperation is essential to promote inclusive and environmentally sustainable growth," Asian Development Bank (ADB) President Haruhiko Kuroda said in a keynote address to the 11th CAREC Ministerial Conference, Asian Development Bank reports in its news release.
"Poor connectivity arising from inadequate transport and communications infrastructure can impede trade expansion and investment attraction," Haruhiko Kuroda added.
The Wuhan Action Plan, unveiled at the ministers' meeting today, prioritizes 68 transport projects that will contribute to six major corridors linking the ports in eastern People's Republic of China (PRC) with the Caucasus and beyond, and connecting northern Kazakhstan to the trading hubs in Karachi and Gwadar in Pakistan. This will be complemented by efforts to improve border and customs services to allow people and goods to move easily between nations. In addition, CAREC nations aim to raise funds to build and improve energy assets.
The Ministers, representing Afghanistan, Azerbaijan, the PRC, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan, also agreed to establish a base for the CAREC Institute in the region by 2014 to support strategic projects through analytical work, training, and knowledge management.
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