CAREC Development Partners' Forum

Baku, Azerbaijan: 24 November 2011

The CAREC Development Partners’ Forum was held on the third day of the 10th Ministerial Conference in Baku, Azerbaijan, bringing together ministers and senior representatives of development agencies, including CAREC’s multilateral institution (MI) partners, to

  • discuss the goals and aspirations of the CAREC Program over the coming decade, as CAREC 2020 is implemented;
  • identify specific opportunities for future financing and partnerships with CAREC member countries and other international funding organizations; and
  • suggest ways to help CAREC achieve its objectives of expanded trade and competitiveness.

In his opening remarks, Asian Development Bank (ADB) President Mr. Haruhiko Kuroda highlighted the success of CAREC during its first decade due to the partnership it has forged with the CAREC MI partners. This unique partnership has ensured a coordinated approach to regional initiatives and financial resources and expertise.

Mr. Kuroda announced that ADB has allocated $4.7 billion over the next 3 years to support CAREC 2020’s goals of trade expansion and improved competitiveness. MIs at the forum echoed their support for the work of CAREC and some offered substantial financial assistance over the next decade. Senior representatives of bilateral agencies from France, Germany, Japan, the United Kingdom, and the United States attended the forum and supported CAREC 2020.

Azerbaijan’s Minister of Economic Development Mr. Shanin Mustafayev talked briefly about CAREC 2020, the strategic framework endorsed by ministers of CAREC member countries.

The forum was chaired by ADB Vice President Xiaoyu Zhao.

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© Central Asia Regional Economic Cooperation (CAREC) 2009