ISLAMABAD: Pakistan will host a ministerial conference of the Central Asia Regional Economic Cooperation (CAREC) in the capital next month, bringing together 10 regional countries for boosting cooperation in trade and economic fields.

“Linking connectivity with economic transformation in CAREC” will be the theme of the conference, which will be inaugurated by Prime Minister Nawaz Sharif on October 26.

High-profile leaders of multilateral financial institutions, including Asian Development Bank (ADB) President Takehiko Nakao and International Monetary Fund (IMF) Managing Director Christine Lagarde, will attend the inaugural session of the ministerial conference.

According to Finance Minister Ishaq Dar, the aim of the government is to make Pakistan a regional trade hub for which contacts with friendly neighbouring countries are being established.

Officials say transport, energy, trade facilitation and trade policy will be the priority areas for discussion at the 10-member CAREC forum.

Six multilateral institutions, namely ADB, United Nations Development Programme, IMF, World Bank, Islamic Development Bank and European Bank for Reconstruction and Development, will also participate in the conference.

The government has officially sent invitations to the finance minister of Afghanistan, minister of economy of Azerbaijan, Chinese finance minister, minister of national economy of Kazakhstan, minister of economy of Kyrgyz Republic, finance minister of Mongolia, minister of economic development and trade of Tajikistan, minister of economy and development of Turkmenistan and finance minister of Uzbekistan.

Ms Lagarde of the IMF, during her first visit to Pakistan, will also receive a briefing by the economic managers led by Mr Dar.

Published in Dawn, September 23rd, 2016