The Central Asia Regional Economic Cooperation (CAREC) Institute was inaugurated in Urumqi, capital of the Xinjiang Uygur autonomous region, on Sept 7.
CAREC, established in 2006, will utilize the new institute to provide web-based information and knowledge products, training and events for 11 CAREC member countries with the aim of generating world-class resources for CAREC's priority areas in transport, trade, and energy.
China's Finance Minister Xiao Jie said that the establishment of the CAREC Institute reveals the common aspirations of China and Central Asian countries for regional economic cooperation.
Central Asian regions set up new cooperation institute The CAREC Institute is inaugurated in Urumqi, capital of the Xinjiang Uygur autonomous region, on Sept 7. [Photo by Liu Hongxia/xinhuanet.com]
Xiao Jie hopes that the Asian Development Bank (ADB) will continue to provide capital and support to CAREC Institute.
Xinjiang has been promoting the construction of transportation, logistics, financing, technology and medical treatment to become an economic hub for Central Asian regions.
Shohrat Zakir, chairman of the Xinjiang Uygur autonomous region, said that the institute will act as a bridge between Xinjiang and Central Asian countries, driving cooperation and economy.
Central Asian regions set up new cooperation institute Senior government officials from CAREC member countries take a group photo on Sept 7. [Photo provided to chinadaily.com.cn]
Senior government officials from Afghanistan, Pakistan, Tajikistan and Uzbekistan attended the inauguration ceremony in support of the institute.
The CAREC and ADB institutes jointly organized a global value chains training workshop in March 2015. The workshop focused on how CAREC countries can develop effective policies and programs to benefit Central Asian Economic Corridor and plug into global value chains.