Azerbaijan, Baku, Oct. 24 /Trend A. Akhundov/
Central Asia Regional Economic Cooperation (CAREC) program member-states will discuss the concrete ways of developing the communication and cooperation in the region until 2020.
The eleventh meeting of ministers within CAREC will be held in Wuhan, Chinese Hubei Province on October 29-31, the Asian Development Bank (ADB) said on Wednesday.
Head of the Economic Development Ministry's office Samir Valiyev will represent the Azerbaijani side, the ministry told Trend on Wednesday.
The ministers of these countries adopted the document "CAREC 2020: 10-year Strategic Framework for the CAREC Program" at the 10th meeting in Baku in November. The implementation of "CAREC 2020: Vision and Action" will be discussed in 2012.
The CAREC program assists Central Asia countries and their neighbors in realization of their economical potential through promotion of regional cooperation in 4 major fields: transport, trade stimulation, trade policy and energy.
After joining the CAREC program in 2002 Azerbaijan has invested around $3 billion in program projects. Azerbaijani government have contributed around $6 billion to development of transport corridor within CAREC. Azerbaijan's reconstruction of East West highway within CAREC program has transformed the country into a more effective corridor between Caspian and Black seas, which contributed to promotion of trade between Europe and Asia.
The CAREC program established in 1997 is a partnership of 10 countries- Azerbaijan, Afghanistan, China, Kazakhstan, Kyrgyzstan, Mongolia, Pakistan, Tajikistan, Turkmenistan, Uzbekistan and 6 multilateral institutions: ADB, European Bank of Reconstruction and Development, International Monetary Fund, Islamic Development Bank, UN Development program and World Bank.