Delegation from Azerbaijan will participate in the 4th conference of CAREC

Kuroda will also get familiar with the course of implementation of the ADB projects. It will come as the first trip of the President from his appointment to this post in February 2005.

"The country without access to sea and with small population need cooperation to strengthen their economic systems and improve welfare," he said. "Taking into consideration the closeness of the Central Asian region to the speedy developing markets of the Chinese People’s Republic, India and Russia, which need large energy resources, as well as considerable access to sea through Afghanistan it has big opportunities to gain profit from its strategic location," Kuroda added.

During the tour Kuroda will make a speech at the 4th conference of the Central Asian regional Economic Cooperation (CAREC) planned in Bishkek on 6 November. "I hope the Conference will focus on the issues concerning more effective use of opportunities by the region," he stressed.

The Conference with participation of the representatives of the countries participated in the CAREC, as well as Afghanistan, Azerbaijan, Chinese People’s Republic, Kazakhstan, Kyrgyzstan, Mongolia, Russia, Tajikistan and Uzbekistan will consider opportunities to expand the cooperation and strengthen economic ties. Azerbaijan will be represented by the delegation of the Economic Development Ministry. Besides, the representatives of the ADB, the EBRD, the International Monetary Fund, Islam the Development Bank, the UN Development Program and the World Bank also participate in the event.

The ADB with headquarters in Manila stimulate poverty reduction in Asia and the Pacific region through stabile economic growth and social development. The Bank established in 1966 has 64 member countries with 46 in the region. The ADB approved $5.3 billions of credits and $196.6 millions of grants.

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