Close cross-border cooperation and trade policy reform in Central Asia and neighboring countries can reduce the carbon footprint of trade and production chains, according to representatives of the Asian Development Bank.
"Harmonizing policies and standards under the ADB-supported Central Asia Regional Economic Cooperation (CAREC) Program can help increase trade volumes, making supply chains less carbon-intensive and more resilient," said Eugene Zhukov, ADB Director General for Central and West Asia, on the eve of the 57th annual meeting of the organization in Tbilisi on May 2.
The Tajikistan delegation at the event is led by the country's First Deputy Prime Minister and ADB Governor from Tajikistan, Khokim Holikzoda.
According to the World Trade Organization, about 20-30% of global carbon dioxide emissions are related to trade and supply chains.
Most CAREC countries, according to the ADB, specialize in sectors with high emissions, such as power generation, chemical, and mining industries.
They recommend that CAREC countries take a regional approach to developing green standards to help their businesses and producers remain competitive amid growing environmental standards and carbon pricing policies.
Laziza Sabirova, Head of the ADB Regional Cooperation Department in Central and West Asia, reported that CAREC, with the support of development partners, is working to increase climate financing, which will help accelerate countries' transition to clean energy and strengthen their resilience to climate change impacts.
CAREC is a regional cooperation program aimed at expanding trade and improving business competitiveness in member countries through the implementation of regional projects in transportation, trade facilitation, energy trade policy, and economic corridor development.
It brings together Afghanistan, Azerbaijan, Kazakhstan, China, Kyrgyzstan, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan. The CAREC Secretariat is housed within the ADB.
