Workshop on promoting economic diversification taking placeEconomy
Ulaanbaatar /MONTSAME/ The Central Asia Regional Economic Cooperation Institute and the United Nations Industrial Development Organization are jointly conducting a two-day workshop on Promoting Economic Diversification in Ulaanbaatar city on May 16-17.
The workshop has been planned for knowledge sharing and introducing various theoretical concepts and best practices in emerging economies with an emphasis on promoting economic diversification. Policymakers from 11 CAREC member countries who are involved in the formulation and implementation of strategies and programs related to economic diversification as well as experts from international institutes are participating in the seminar.
The member countries of Central Asia Regional Economic Cooperation (CAREC) Program including Mongolia, Afghanistan, Azerbaijan, People’s Republic of China, Georgia, Kazakhstan, Kyrgyz Republic, Pakistan, Tajikistan, Turkmenistan and Uzbekistan are implementing comprehensive government programs for diversification their economies and exports in order to develop the long-term competitiveness that sustains economic growth. Export diversification in CAREC region also provides opportunities for the production of new competitive goods and their moving into new markets.
The 17th Ministerial Conference of the CAREC Program that took place in November, 2018 in Ashgabat, Turkmenistan announced policy advice for member countries to increase export diversification through promoting conductive environment for private sector, identifying measures on industrial and investment policy for specific sectors based on some successful strategies in Central Asia countries.