TRACECA participated in the Technical Consultation Meeting on the Central Asia Regional Economic Cooperation (CAREC) Corridor 2 Development Strategy

CAREC Corridor 2, which overlaps to some extent with the Middle Corridor, is an important element for improving connectivity between Asia and Europe. At the same time, several obstacles, such as limited logistics capacity, infrastructure deficiencies, and procedural barriers, need to be overcome to realise its full potential.

The meeting discussed the need to invest in modernizing railways, ports, logistics centres and other measures aimed at improving business processes, which in turn boost trade and economic activity along the corridor.

Within his speech, Mr. Asset Assavbayev, Secretary General emphasized that at present TRACECA is actively working on the development of the Strategy for the next decade and in this context stressed the importance of coordination during bilateral discussions and meetings between TRACECA and ADB. In addition, Mr. A. Assavbayev noted that at the last Meeting of the IGC TRACECA in Tehran (Iran) it was decided to establish the TRACECA Fund, where the main priority areas were identified, in particular, digitalisation, simplification of border crossing procedures, renewal of rolling stock, development of maritime transport and skills development. In this respect, the TRACECA Secretariat is also ready to consider possibilities of interaction between the stakeholders.

The Technical Consultation Meeting is another step in strengthening cooperation and achieving the long-term goals of developing transport and trade corridors in the region, as well as discussing the CAREC Transport Strategy 2030.

For reference:

- TRACECA comprises the transport system of 14 member countries united by the idea of developing the international transport corridor Europe-the Caucasus-Asia

- ADB - Asian Development Bank, a financial organization that provides loans and technical assistance to Asian countries. CAREC - Central Asia Regional Economic Cooperation Programme. Read more: CAREC Program

- PS IGC - Permanent Secretariat of the Intergovernmental Commission

- ITC - International Transport Corridor

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