No country can fight climate change alone. The countries of the Central Asia Regional Economic Cooperation (CAREC) program should take coordinated action to combat the increasing impacts of climate change and find sustainable solutions.
The ability of the economies of the Caucasus and Central Asia to effectively respond to external shocks critically depends on their cooperation in diversifying trade and transport routes. The right policies and development of the Middle Corridor is a key to success.
As countries in Central Asia and the Caucasus navigate post-pandemic recovery and geopolitical challenges, managing increasing public debt becomes crucial for sustainable growth.
A free trade agreement could bring the economic and social development benefits of global value chains to Central Asia.
Addressing the climate emergency will require all the funding possible from as many diverse sources as possible. Islamic climate finance instruments could help in Asia and in many other parts of the world.
Trade via rail in Central Asia has proven highly effective in recent years. It needs further support to take it to the next level.
Central Asia has the opportunity to create a sustainable, safe, easily accessible, and well-known tourism destination that provides a variety of year-round, quality experiences.
Central Asia’s long-term economic prosperity depends upon participation in global value chains and upgrading to higher value-added activities.
By working together with countries to make sound socioeconomic development strategies, multilateral financial institutions can contribute substantially to the fight against the pandemic.
With expanding regional cooperation and a readily available platform, the building blocks are in place for Central Asia to achieve energy security, resilience and economic competitiveness.