The ADB Office in Baku said the objective of the visit is to have discussions with the Government of Azerbaijan on organizing all the 2008 events of the Central Asia Regional Economic Cooperation (CAREC) Program in Baku.

The CAREC Program members will come together in the first half of 2008 and again in the second half. An Annual Ministerial Conference will be held in late 2008 and several meetings on transport, energy and trade will take place during the year.

The ADB delegation will discuss the issue with Azerbaijan’s Ministry of Economic development.

CAREC is an ADB-supported initiative to encourage economic cooperation in Central Asia. Initiated in 1997, the program to date has focused on regional initiatives in transport, trade facilitation, trade policy, and energy critical to improving the economic performance of the region and the livelihoods of all people—especially of the poor.

CAREC is composed of Azerbaijan, People’s Republic of China, Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan, Uzbekistan and Afghanistan.

ADB, based in Manila, is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance.