Turkmenistan, Pakistan join CAREC program

Business Materials 2 November 2010 17:10 (UTC +04:00)
Turkmenistan and Pakistan today joined the Central Asia Regional Economic Cooperation Program (CAREC) of the Asian Development Bank, the Bank’s press release says.

Turkmenistan, Asghabat, Nov.2 / Trend, H.Hasanov /

Turkmenistan and Pakistan today joined the Central Asia Regional Economic Cooperation Program (CAREC)  of the Asian Development Bank, the Bank's press release says.

The decision has been taken at the CAREC conference in Cebu, Philippines.

The main goal of this program is to assist in implementation of investment projects of countries and international organizations participating in this program in the sphere of transport, trade and energy, aimed at accelerating economic development and improved living standards of the Central Asian region. It must be recalled that the ADB promotes in the region the Turkmenistan-Afghanistan-Pakistan-India.gas pipeline project.

Founded in 1997, CAREC is now a partnership of 10 countries - Afghanistan, Azerbaijan, the People's Republic of China, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan and Uzbekistan - and six multilateral institutions: ADB, European Bank for Reconstruction and Development, International Monetary Fund, Islamic Development Bank, United Nations Development Programme and World Bank.

The corresponding document was signed by the Turkmen President Gurbanguly Berdimuhammadov, who stressed its importance in the context of international cooperation, in particular, intergovernmental relations in the region.