DUSHANBE, July 23, 2010, Asia-Plus  -- The Asian Development Bank (ADB), in cooperation with China, is organizing a Central Asian Regional Economic Cooperation (CAREC) Business Development Forum in Urumqi on July 29-30, 2010, according to ADB’s Tajikistan resident Mission (TJRM).

The Forum aims to support private sector participation in regional initiatives, encourage foreign direct investment in priority infrastructure projects, and promote collaboration among private and public sector organizations in CAREC countries.

The event is co-organized by PRC’s Ministry of Commerce, Ministry of Finance, Government of Xinjiang Uygur Autonomous Region, and All-China Federation of Industry and Commerce.

Senior government officials and private sector representatives from Afghanistan, Armenia, Azerbaijan, China, Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan, and Uzbekistan are expected to participate in the Forum.

“There will be plenary sessions on business opportunities and public-private partnerships in regional development, country presentations on trade and investment opportunities, and how ADB is supporting private sector investment,” said Makoto Ojiro, ADB’s Country Director for Tajikistan. "Panel discussions will also be held on transport, agricultural trade, trade facilitation, and energy issues."

Tajikistan''s delegation is expected to comprise Senior Adviser to the President on Economic Policy and CAREC National Focal Point for Tajikistan Nematjon Buriyev; Minister of Economic Development and Trade Farrukh Hamraliyev; First Deputy Minister of Energy and Industry Pulod Muhidinov; and senior representatives from Agroinvestbonk, Pamir Energy and Somon Capital Company.

CAREC is an ADB-supported initiative to encourage economic cooperation in Central Asia. Initiated in 1997, the program is focused on regional initiatives in transport, trade facilitation, trade policy, and energy critical to improving the economic performance of the region and the livelihoods of all people—especially the poor.

Tajikistan joined ADB in 1998, and to date has received about $570 million in concessional loans, grants and technical assistance from ADB. In 2010, ADB plans to provide $150m in grant assistance to Tajikistan.  The assistance program is expected to support energy and private sector development.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific region through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region.  In 2009, it approved a total of $16.1 billion in financing operations through loans, grants, guarantees, a trade finance facilitation program, equity investments, and technical assistance projects.  ADB also mobilized cofinancing amounting to $3.2 billion.