Chaired and hosted virtually by China under the theme “Revitalizing Regional Cooperation for a Green, Sustainable, and Inclusive Recovery”, the 21st CAREC Ministerial Conference took place on November 24.
Press release issued by the Asian Development Bank (ADB) Tajikistan resident Mission (TJRM) says countries in Central and West Asia have endorsed three new cross-border cooperation initiatives to help accelerate the region’s recovery from the COVID-19 pandemic, improve food security, and boost the development of clean energy.
The Tajikistan delegation was headed by Nematullo Hikmatullozoda, Assistant to the President for Economic Affairs and CAREC National Focal Point for Tajikistan.
Ministers from the Central Asia Regional Economic Cooperation (CAREC) Program reportedly said in a joint statement that the pandemic showed that health shocks can have large macroeconomic impacts with significant social costs.
“We will push productivity through digitalization, innovation, and investment; achieve green growth through climate action, sustainable agriculture, and energy transition; and promote inclusiveness through social protection, gender, education, and health,” the statement says
The initiatives endorsed by ministers from Azerbaijan, the People’s Republic of China (PRC), Georgia, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan are:
1. The CAREC Post Pandemic Framework for a Green, Sustainable, and Inclusive Recovery, which outlines areas where CAREC countries can collaborate to boost the region’s recovery from the economic impacts of the pandemic and geopolitical conflicts, among other shocks.
2. The Cooperation Framework for Agricultural Development and Food Security in the CAREC Region, which focuses on international cooperation to modernize agriculture, strengthen policies, and develop food value chains. The framework also emphasizes international trade in food products and enhancing information sharing on food security.
3. The CAREC Green Energy Alliance will be the first financing vehicle specifically for renewable energy and energy efficiency in the region. Now endorsed by the ministers, work will begin on establishing the vehicle, which will provide access to investment-ready green energy projects and match financiers with project developers to fast-track the low-carbon transition.
Ministers reportedly also lauded a CAREC scoping study that analyzes climate change issues in the region and recommends actions to help tackle them, including the preparation of a regional climate change strategy.
Established in 1966, the Asian Development Bank is owned by 68 members—49 from the region.
