DUSHANBE, January 24, Asia-Plus – The Asian Development Bank (ADB) considers Central Asia as region with wide opportunities and expansion of regional cooperation is one of strategic factors contributing to further development of the region Robert Siy, Director of the Country Coordination and. Regional Cooperation Division, Central and West Asia Department, ADB, remarked at a news conference in Dushanbe on January 23.
Robert Siy headed a mission of the Asian Development Bank arrived in Tajikistan on January 22 for a two-day visit.
“Central Asia’s rapid growth will continue,” the ADB official said noting that the main purpose of the visit was for the Bank’s mission to discuss preparations for the 6th ministerial conference that is scheduled to be held in Dushanbe in October or early November as part of the of the Central Asian Regional Economic Cooperation (CAREC) program.
According to Siy, the conference will bring together high-ranking state officials form the countries participating in the CAREC program to discuss proposals on the implementation of regional projects.
The Central Asia Regional Economic Cooperation (CAREC) Program was initiated in 1997. CAREC’s goal is to improve living standards and to reduce poverty in CAREC countries through more efficient and effective regional economic cooperation. To date, the Program has focused on financing infrastructure projects and improving the region”s policy environment in the priority areas of transport, energy, trade policy and trade facilitation.
We will recall that a report released by the ADB in April 2006 said that Central Asia will maintain its rapid economic expansion with GDP growth in the region projected at 10.3% in 2006 and 9.8% in 2007. Regional inflation is expected to rise slightly to about 7.9% in 2006, but the current account is now expected to post a strong surplus due to high oil prices. As a region, Central Asia would benefit most from an aggressive campaign to remove barriers to trade and foster closer economic cooperation.
