An official from the Asian Development Bank (ADB) said on Monday that Central Asian countries must work together to remove barriers hampering trade and to improve roads and other infrastructure to maintain rapid economic growth.
Juan Miranda, Director General of ADB's Central and West Asia Department, said in a news release that a ministerial conference of the Central Asia Regional Economic Cooperation (CAREC) Program in Tajikistan should seek how to improve cooperation on trade and transport infrastructure.
The ADB praised Central Asia for doing a good job in economic growth but warned that the region is facing running down infrastructures as aging roads are deteriorating faster than rehabilitation works.
Officials from eight countries attending the CAREC will meet early next month in Dushanbe meeting, where a proposal for collecting 19 billion U.S. dollars in investment in transport corridors of the region will be discussed.
"This could lead to the construction of the modern-day equivalent to the ancient Silk Road," Miranda said, adding "Historically the region was braided by multiple routes linking east and west. It can do this again."
Central Asia lies at the geographic center of the Eurasian continent, but it has been unable to capitalize on this advantage because of the lack of transport links, said Miranda.
CAREC is an ADB-supported initiative to encourage economic cooperation in Central Asia.
CAREC members include Afghanistan, Azerbaijan, China, Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan and Uzbekistan.