Kazakhstan in CAREC
- Kazakhstan joined CAREC in 1997
- As of 2015, more than $8.27 billion has been invested in transport, trade, and energy
- 15 ongoing CAREC projects
- 8 completed CAREC projects
CAREC in Kazakhstan
Kazakhstan has participated in the CAREC Program since 1997, embracing a vision of cooperation with its neighbors to achieve a new era of development and prosperity.
As a founding member of CAREC, Kazakhstan is working with other member countries to overcome barriers to growth and connectivity, and to place the region at the heart of Eurasia's trade and commerce as global markets increasingly integrate.
Kazakhstan’s first contribution to regional cooperation involved one of the CAREC Program's earliest initiatives. In 2000, the program began to rebuild the road between the commercial city of Almaty and the Kyrgyz Republic capital of Bishkek.
The route became an integral part of CAREC Corridor 1, one of the six CAREC corridors in the current version of the Silk Road, which stretches from the People's Republic of China (PRC) to Azerbaijan, in the Caucasus, and farther west to Europe; and from south Kazakhstan to the ports of Pakistan.
As of 2015, more than $8.27 billion has been invested in Kazakhstan through the CAREC Program for projects that have improved transport, trade, and energy infrastructure.
More importantly, these projects support better integration among CAREC countries and aim to harness each country's vast natural and human resources.
Kazakhstan’s critical role in transport is reinforced by the fact that four of the six CAREC corridors pass through its territory. The most vital of these are CAREC Corridor 1, an important cargo-transit route from the PRC, through the Kyrgyz Republic and Kazakhstan, to the Russian Federation and then Europe; and CAREC Corridor 2, an east–west conduit linking Kazakhstan with the PRC and the Russian Federation, and with the Caucasus and points beyond.
With its strategic location, and abundant resources in a territory bigger than Western Europe, Kazakhstan is in a strong position to benefit from the growing international trade along the new Silk Road network, which is being built by the CAREC Program.
Highlights from the Asian Development Outlook 2016:
Continued weak oil prices slashed growth and pushed the current account into deficit for the first time since 2009. Growth is expected to remain low at 0.7% in 2016 but recover slightly to 1.0% in 2017, reflecting higher countercyclical outlays. Policy must address financial vulnerabilities that stem from low oil prices, persistent problems with nonperforming loans, and further dollarization. Read full report
The United Nations Development Programme prepares reports on human development in Kazakhstan.