ISLAMABAD: Pakistan, Azerbaijan and Tajikistan agreed to fast track completion of the Central Asia Regional Economic Cooperation (CAREC) to achieve the regional connectivity in the domains of transport, trade facilitation, energy and trade policy.
CAREC is an Asian Development Bank (ADB) supported initiative established in 1997 to encourage economic cooperation among countries in the Central Asian region.
In particular, cooperation among the ADB member states of Afghanistan, Azerbaijan, China, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Turkmenistan, Tajikistan, and Uzbekistan.
The CAREC program has focused to date on financing infrastructure projects and improving the region’s policy environment in the priority areas of transport (especially road transport), energy (including the water-energy nexus), trade policy, and trade facilitation (especially customs cooperation).
“As of December 31, 2004, the ADB had approved seven regional investment projects totaling $275.1 million, mobilized co-financing of $135.2 million for three of these projects, and approved 22 technical assistance grants totaling $12.9 million” a well placed source at Finance Ministry told this scribe here.
In 2005-2006, investment projects totaling $247 million and technical assistance grants are planned totaling $12.3 million
On the sidelines of the 48th Annual Meeting of the Board of Governors of Asian Development Bank (ADB) in Baku, Senator Mohammad Ishaq Dar separately met with Foreign Minister of Azerbaijan Elmar Mammadyarov and Deputy Prime Minister of Tajikistan Davlatali Said that the excellent bilateral relations that exist between the two countries and discussed other issues of common interests.
The meetings expressed satisfaction on the bilateral relations that exist between Pakistan-Azerbaijan and Pakistan-Tajikistan. Views on bilateral, regional and international issues of mutual interests were also expressed
The Finance Minister highly praised the economic progress and infrastructure development in Azerbaijan under the leadership of President Ilham Aliyev. He congratulated the Foreign Minister for hosting the mega event of annual meeting of ADB Governors and wished Azerbaijan success for forthcoming First European Olympic Games in Baku.
The Finance Minister highlighted the macro-economic measures undertaken by Pakistan, explained the development strategy and “peaceful neighbourhood” policy of the Government of Pakistan under the leadership of Prime Minister Muhammad Nawaz Sharif.
Pakistani and Azerbaijani ministers reiterated that both the countries would continue to mutually support each other on the Nogorno Karabakh conflict and Jammu & Kashmir dispute in order to find the resolution of these issues by peaceful means and in accordance with the United Nations Resolutions. They also agreed to maintain close contacts in all international forums and institutions particularly United Nations and OIC.
The two Ministers also agreed that the actual success would be to transform their excellent political relations into expansion of bilateral cooperation in economic, trade and investment areas.
Pakistan Ambassador to Azerbaijan Khalid Usman Qaiser, Azerbaijan Ambassador to Pakistan Dashgin Shikarov and other officials of Foreign Office of Azerbaijan were also present in the meeting.
