Ninth CAREC Ministerial Conference

CAREC ministers convened on the island resort of Cebu for the 9th Ministerial Conference, with the theme of “Toward CAREC 2020.” The main issues considered by the ministers were

• activities to commemorate the tenth anniversary of CAREC’s Overall Institutional Framework in 2011,
• the performance assessment of the CAREC Institute,
• the baseline data for the CAREC Development Effectiveness Review, and
• the expansion of country members.

The ministerial meeting was opened with addresses from Afghanistan’s Finance Minister Dr. Omar Zakhilwal and ADB’s Vice-President (Operations 1) Xiaoyu Zhao. Afterwards, ADB President Haruhiko Kuroda delivered his keynote address.

The International Monetary Fund (IMF) made a presentation on the economic outlook in CAREC countries, based on their recently released World Economic Outlook (October 2010).

Ministers then considered the report and recommendations of the Senior Officials’ Meeting. The ministers welcomed Turkmenistan as a new member of CAREC following the invitation to join in 2007. Also, the ministers accepted Pakistan as the tenth member of CAREC.

The first CAREC Ministerial Retreat followed the ministerial conference. The retreat with ADB’s President Kuroda and Vice President Zhao provided an opportunity for informal exchange of views on expanding regional cooperation, the success factors for CAREC, and the vision for the CAREC region by 2020.