CAREC regional cooperation expansion discussed

Business Materials 14 April 2006 18:57 (UTC +04:00)

Perspectives of regional cooperation improvement and transit matters were discussed at the Central Asian Regional Economic Cooperation (CAREC) Asian bank program meeting of the high level officials, that was held in Urumchi on April 10-11 (Uygur autonomous district of China). The 4th meeting of the Coordination committee on trade policy and meeting of the Coordination Committee on energetic cooperation took place before the conference, the head of the investments and economic cooperation of the economic ministry, Elshan Mamedzadeh told Trend.

Possibilities of the trade regime improvement, document harmonization, cooperation in trade have been discussed at the meeting. Joint CAREC products include; reconstruction of Baku- Georgia highway. ADB has allocated $52 m to finance the project.

All projects have the regional status as a matter of fact can be included into the list of CAREC financed projects. The energy resources transportation routes are planned to be build under the CAREC auspices, in particular to transit the Kazakh oil via BTC.