In the past decade, the CAREC region had progressed toward a greater degree of cooperation and witnessed a wider extent of development in its trade and trade facilitation. Despite the challenges it faces due to geographic constraints—being landlocked and located far from blue-water seaports—many important international and regional initiatives contributed to shaping its trade flows and affected performance of its six priority transport corridors.
The coronavirus pandemic that disrupted businesses and international trade in 2020 has greatly impacted border crossing efficiency and reliability due to additional epidemiological measures and quarantine inspections and clearances.
The “Trade Facilitation in CAREC: A 10-year CPMM perspective” identifies the main trade impediments that need attention and resolution in the region. Given these constraints, the Asian Development Bank, through the CAREC program, formulates actions to address the issues both at regional and national levels, with the support from the Regional Cooperation and Integration Fund.
Related event: Trade Facilitation in CAREC: A 10-year CPMM Perspective.