The Asian Development Bank (ADB) and member countries of the bank's Central Asia Regional Economic Cooperation Program (CAREC) are making effective efforts to further strengthen regional cooperation, Azerbaijan's Economy Minister Mikayil Jabbarov said, Report informs.
Speaking at the CAREC Partnership Ministerial Meeting on Climate, Innovation and Trade held within the framework of COP29, Jabbarov said Azerbaijan is committed to promoting stronger regional cooperation and integration: "Azerbaijan and Central Asian countries share a unique historical, cultural and geopolitical space that is becoming increasingly important in the global arena. In this sense, the current program plays a vital role in uniting the region for joint and sustainable development.
Over twenty years, the CAREC program has made significant contributions to our region's development. The program supports strengthening regional connections by investing in high-quality projects across various sectors, including new priority areas, while also acting as a catalyst for regional cooperation in research, knowledge exchange, and best practices."
ADB President Masatsugu Asakawa, in turn, emphasized that it's time to decisively move towards a low-carbon future that prioritizes environmental sustainability and economic prosperity in CAREC member countries: "By uniting in purpose and action, we can create lasting change for future generations. ADB is ready to support every step of this transformation journey."
The CAREC Program, established by ADB in 1997, aims to promote economic cooperation among Central Asian, South Caucasus, and South Asian countries.