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.
By working together with countries to make sound socioeconomic development strategies, multilateral financial institutions can contribute substantially to the fight against the pandemic.
The pandemic has underscored the importance of trade facilitation within South Asia and with the region’s neighbors.
The Regional Comprehensive Economic Partnership brings 15 nations and 2.2 billion people into a trade partnership. It also offers broad economic and societal benefits that go beyond imports and exports.
Central Asia’s long-term economic prosperity depends upon participation in global value chains and upgrading to higher value-added activities.
Pandemic Partners: Regional Cooperation Has Helped Asia and the Pacific Mitigate and Recover from COVID-19
The region’s success with decades of growth and poverty reduction is due in large part to the international movement of trade, capital, people, knowledge, and resources – not only within the region but with the rest of the world. This type of regional cooperation is also a powerful tool in addressing the pandemic.
The massive Regional Comprehensive Economic Partnership presents a major trade opportunity for Asia but there are still critical details that need to be worked out.
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.
Just as past crises triggered international and regional financial cooperation, the pandemic offers an opportunity to collectively improve financial resilience and soundness.
Migration in the Asia-Pacific region is diverse and enduring. It cannot be handled by one country alone. Regional cooperation is needed.