Tbilisi hosts CAREC ministerial
Tbilisi hosts CAREC ministerial

Tbilisi hosts the 22nd ministerial meeting of the Central Asia Regional Economic Cooperation Program (CAREC). The annual event serves as CAREC’s high-level strategy development and policy body.

Vice Prime Minister of Georgia and Minister of Economy and Sustainable Development, Levan Davitashvili, made opening remarks at the event. Georgian Prime Minister Irakli Garibashvili and Masatsugu Asakawa, President of the Asian Development Bank, also addressed the delegates.

High-ranking officials from state agencies of participating CAREC countries attend the event.

CAREC, currently comprising ten countries, aims to foster economic growth and poverty reduction in its member nations. Georgia is one of the initiators of the free trade agreement among CAREC member countries. Additionally, Georgia backs the development of joint energy projects and transport corridors.

The primary topic of the 22nd ministerial meeting is to develop measures, strategic goals, and plans for addressing climate change in the region. CAREC’s Climate Change Vision Document aims to enhance the region’s resilience to climate risks, reduce greenhouse gas emissions, and transition to a low-carbon economy.

Other priority areas discussed at the ministerial include trade promotion, transport, and energy.

Georgia joined the Central Asia Regional Economic Cooperation (CAREC) program in 2016.

The ministerial meeting provides an opportunity to showcase Georgia’s investment potential, highlight steps taken for business promotion, discuss implemented reforms, and promote cooperation between foreign and Georgian businesses.