The President of Uzbekistan, Shavkat Mirziyoyev has ratified the Agreement on establishment of the Institute of Central Asian Regional Economic Cooperation.
It should be noted that the Legislative Chamber of Uzbekistan passed the law on March 25, 2017 and the Senate approved the document on March 28, 2017.
The agreement was signed by the governments of Afghanistan, Azerbaijan, China, Kazakhstan, Kyrgyzstan, Mongolia, Pakistan, Tajikistan, Turkmenistan and Uzbekistan.
The document was signed on October 26, 2016 in Islamabad (Pakistan).
The purpose of the Institute is to improve the quality of CAREC through creation of knowledge and capacity building for effective regional cooperation in order to achieve economic growth in the CAREC region.
The Institute will align its programs with the strategic goals of CAREC and offer innovative solutions based on the exchange of best practices, to enable the Member States to respond to regional challenges and realize cooperation processes.
The Institute will conduct strategic research through mobilizing of world-class intellectual personnel in order to enhance the potential of regional integration and accelerated economic growth in the CAREC region.
