Central Asia, a key element for reglobalization and future trade, according to the WTO and ADB High-Level Forum

 

The event, organized by the WTO in collaboration with Asian Development Bank (ADB) under the framework of the Regional Economic Cooperation Programme for Central Asia (CAREC), brought together senior government officials, including chief negotiators for accession to the WTO, to analyze how international trade can boost economic growth and strengthen regional integration in the region.

 

Strategic Location and Untapped Potential

 

During the inauguration, WTO Director-General Ngozi Okonjo-IwealaOkonjo-Iweala emphasized the CAREC region's "great potential" to influence the reglobalization agenda. She highlighted its "strategically important location between the major economic centers of Europe and Asia," coupled with its "considerable potential for greater regional economic integration, along with abundant reserves of critical minerals and green energy potential."

 

The Director-General emphasized the need to reduce trade costs, simplify border procedures and decrease bureaucracy, for example, by implementing the WTO Trade Facilitation Agreement, in order to "attract more investment, promote trade and support growth and jobs."

 

Digital Connectivity: The Geographic Solution

 

Okonjo-Iweala also highlighted digital connectivity as a crucial factor for Central Asia's mostly landlocked economies to overcome their geographical limitations. "Artificial intelligence and digital transformation will only increase the region's potential to become a trading hub for land-connected economies," she said, citing the WTO's recent World Trade Report, which details how countries can leverage AI as an engine for inclusive growth.

 

Regional Integration and the Multilateral System

 

For its part, Bruce GosperThe Vice President for Administration and Corporate Governance at the Asian Development Bank agreed that the multilateral trading system and regional integration are “mutually reinforcing tools for achieving prosperity.” Mr. Gosper noted that initiatives such as the CAREC Program are essential to maintaining the momentum of the open, rules-based trading system.

 

The forum also addressed the region's contribution to shaping the multilateral trading system and current discussions at the WTO on institutional reform.

 

WTO accessions of Azerbaijan, Turkmenistan and Uzbekistan Mr. Gosper highlighted these initiatives as priorities within CAREC's 2030 Integrated Trade Agenda. In addition to accessions, regional cooperation priorities include trade facilitation, digital connectivity, climate action in trade, and the promotion of services for economic diversification, areas in which the ADB offers technical support and policy dialogue.

 

The CAREC Programme is a partnership of 11 members from Central Asia, the South Caucasus, East Asia and South Asia, with the ADB acting as its Secretariat.