Promoting Economic Diversification in the CAREC Region

The CAREC Institute has partnered with UNIDO and leading academic institutions in the region to deliver a workshop on economic diversification in the CAREC region aimed at deepening the understanding of characteristics of resource dependent economies, importance of industrial development strategies, particularly export oriented industries, to achieve economic diversification, and enhance capacity of CAREC countries to improve their competitiveness. The workshop was held on 16-17 May 2019 in Ulaanbaatar.

The 17th Ministerial Conference of CAREC, on 15 November 2018 in Ashgabat, issued a policy advice to member countries to increase export diversification through promotion of conducive environment for the private sector, and identification of measures to advance industrial and investment policy for specific sectors based on best practices in Asian countries.

With this workshop, the CAREC Institute responded to the policy advice by the Ministerial Conference of 2018 to enable economic diversification in member countries.