CAREC meeting underway in Baku

07.06.2011 [20:20]
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Baku, June 7 (AzerTAC). A High Level Officials Meeting of Central Asia Regional Economic Cooperation (CAREC) has today kicked off here.

Opening the meeting, head of administration of Azerbaijan`s Ministry of Economic Development Samir Valiyev briefed the participants on the CAREC program. He said $15 billion was invested in trade, transport and energy spheres as part of the Program.

Valiyev noted a ten year strategy would also be discussed at the meeting.

Juan Miranda, Director General of Asian Development Bank `s (ADB) Central and West Asia Department, highlighted the issues on the agenda.

CAREC - a program supported by ADB, was established in 1997 to encourage economic cooperation among countries in the Central Asian region. The program has focused to date on financing infrastructure projects and improving the region`s policy environment in the priority areas of transport (especially road transport), energy (including the water-energy nexus), trade policy, and trade facilitation (especially customs cooperation).

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CAREC meeting underway in Baku

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