AKIPRESS.COM - The Prime Minister of Pakistan will inaugurate the Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference on October 26 in Islamabad, report Pakistani media.

The Ministerial Conference will take up issues including transport, energy, trade and trade Facilitation, the draft for formulation of CAREC railway development strategy 2016- 2030 and road safety strategy. It was decided in a high level meeting of the delegations from ten member countries including Afghanistan, Azerbaijan, People’s Republic of China, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, Uzbekistan and Georgia (as Observer).

The meeting was supported by six multilateral institutions including Asian Development Bank (ADB), United Nations Development Program (UNDP), International Monetary Fund (IMF), World Bank (WB), Islamic Development Bank (IDB) and European Bank for Reconstruction and Development (EBRD). Altogether ninety-six delegates actively participated in the meeting and discussed updates on four priority sectors of CAREC. The meeting also decided that the 15th Ministerial Conference would also deliberate on issues including The expected deliverables of 15th Ministerial Conference include launching of the regional food safety initiative, Astana-Bishkek Corridor (ABC Investment Framework), Mid-term Review of CAREC 2020, signing of agreement for establishing CAREC Institute and Georgia membership in CAREC.

It is pertinent to note here that CAREC program consists of 10 member countries (Afghanistan, Azerbaijan, People’s Republic of China, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan) Georgia an Observer supported by 6 multilateral institutions (Asian Development Bank (ADB), United Nations Development Program (UNDP), International Monetary Fund (IMF), World Bank (WB), Islamic Development Bank (IDB) and European Bank for Reconstruction and Development (EBRD). All members work together with the aim to promote development through cooperation, leading to accelerated growth and poverty reduction in the four priority areas of transport, trade facilitation, trade policy and energy.