Strategy on CAREC (Central Asian Regional Economic Cooperation) program, under the project on transport and trade assistance in the region, with a $16bln budget, is currently being discussed by the program member-countries in Baku, within the framework of a meeting which began in Baku on 11 June.

A meeting which will also focus on the implementation of this strategy will be held on 12 June.

CAREC events are being held in Baku in 2008 due to Azerbaijan’s current chairmanship over the program. Initially, consultations on transportation issues were held at the workshop ‘CAREC Trade Logistics and Efficiency Monitoring’, held in Baku in April.

During the meeting, Baku was proposed to become the transit center in the second transport corridor (which covers China –Central Asia - Europe), proposed for construction under CAREC program on assistance to trade and development of transport in the region- adopted at the end of last year.