The Azerbaijan State News Agency

ECONOMY

BAKU HOSTS CAREC CONFERENCE

A conference of the Central Asia Regional Economic Cooperation (CAREC) program of the Asian Development Bank started in Baku, on November 21.

The event brought together delegates from Kazakhstan, Kirgizia, Uzbekistan, Tajikistan, Afghanistan, Mongolia and China.

Azerbaijan`s Minister of Economic Development Shahin Mustafayev noted that CAREC put forward important proposals and the government will do all the best to implement them.

President of ADB underlined that this structure has invested US $ 5 bln in six projects for construction and reconstruction of the roads (including Azerbaijan). Additional US $ 14 bln will be invested till 2020. One of these projects includes creation of East-West transport corridor in Azerbaijan, which is to connect Asia with Europe.

Cooperation in energy area, hydroelectric potential, water resources were also discussed at the conference.

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