CAREC Trade and Customs to Accelerate Regional Trade Agenda

In Ulaanbaatar on June 4, 2026, members of Regional Trade Group and Customs Cooperation Committee of the CAREC Program discussed the progress of implementation of the recommendations of the Midterm Review of  CAREC Integrated Trade Agenda 2030. Mongolia Ministry of Economy and Development State Secretary Batkhuu Idesh and CWRC Regional Head Asad Aleem, emphasized the importance of regional cooperation to facilitate trade while promoting resilience amid the rapidly evolving global trade landscape. It is important to note that the  Asian Economic Integration Report 2026 found that CAREC countries remain deeply integrated into global value chains, and diversification and trade agreements can mitigate the negative impact of trade uncertainty.

Participants noted the action plans to implement the trade-related Memorandums of understanding (MOUs) signed at 24th CAREC Ministerial Conference in 2025, including the launch of the CAREC Trade and Investment Facilitation Partnership Agreement (CARTIF) and the pilot on electronic exchange and mutual recognition of product conformity certificates. At the meeting, Mongolia also signed the MOU to participate in the pilot on CAREC Advanced Transit System and Information Common Exchange (CATS/ICE), reflecting the growing momentum to modernize transit procedures and promote seamless cross-border trade across the CAREC region.

Participants also highlighted encouraging progress of WTO accession among remaining three members. The meeting reaffirmed participating countries’ commitment to advancing the CAREC trade agenda through coordinated policy, institutional, and investment actions that support stronger regional economic integration.

For more details on the event: https://carecprogram.org/?event=joint-meeting-of-the-carec-regional-trade-group-and-the-customs-cooperation-committee