Azerbaijan, Baku, May 12 / Trend , I. Khalilova/
The Coordinating Committee on Transport and Trade Facilitation as a part of the CAREC (CAREC - Central Asia Regional Economic Cooperation) program is scheduled to meet in Ulaanbaatar on 24-25 June, economist at the Asian Development Bank (ADB) Baku representative office he Rafael Abbasov said.
"The meeting will focus on work and coordination of activities as a part of the regional transport program," Abbasov said.
The meeting will also focus on progress in implementing the work plan in the area of transport and trade development. The meeting is also expected to approve a three-year program and action plan for 2010-2012 and a work plan for the committee in 2009 and an action plan for 2010.
CAREC - a partnership of eight participating countries (Afghanistan, Azerbaijan, PRC, Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan and Uzbekistan) and six international organizations (ADB, EBRD, IMF, IDB, UNDP and World Bank).
Azerbaijan will be represented by representatives of the State Customs Committee, Economic Development Ministry and Transport Ministry.
Azerbaijan chaired in CAREC last year. At the meetings Baku was proposed as a transshipment center in the second transport corridor (includes China - Central Asia - Europe), the construction of which was initiated by the participating countries in the CAREC Program to facilitate trade and transport development in the region approved in late 2007. It will enable to create large logistics center in Baku which means that all goods from China will be transported via the Azerbaijani border and processed and transported by national road transporters.
This program includes establishment of six transport corridors passing through the eight countries participating CAREC, $valued at 18 billion. Two of these corridors, which could become the first, will connect Azerbaijan with Kazakhstan and Turkmenistan and calls for development of road air and railway communication.
Total funding approved in 2007 by the ADB together with other international financial institutions participating in the CAREC in the development of transport corridors was $1.2 billion. About $680 million was allocated by the Asian Development Bank.
Approved by ADB for Azerbaijan multi-tranche funding mechanism (MFF), providing for the allocation of the $ 500 million for the implementation of transport projects, is a step in the development of the transport corridor.
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