ISLAMABAD, July 18: The Asian Development Bank (ADB) has indicated to make available roughly $1 billion for enhancing regional trade through the creation of road corridors between Pakistan, Iran and the Central Asian Republics.

Official sources told Dawn here on Friday that the ADB was organizing a “Ministerial Conference on Transport and Trade in Central Asia and South Asia” on July 31, to discuss and chalk out a plan to establish road linkages between the Central Asian Republics and Pakistan and ports along the Arabian Sea.

Finance Minister Shaukat Aziz has been invited by ADB President Mr Tadao Chino to participate in the conference scheduled to be held at the bank’s headquarters, Manila, Philippines.

The objectives of the conference are: to assess the economic impact of enhanced regional trade through the creation of road corridors that provide connectivity between Central and South Asia; to identify the most efficient road corridor trajectories and assess investment requirements to build or improve these corridors; to identify priority areas for removing trade impediments; and to establish a forum for participating countries where regional trade and transport issues can be discussed and acted upon.

The sources say the ADB believes that Uzbekistan, Tajikistan, and Turkmenistan can substantially benefit from improved access to Pakistan and Iranian ports along the Arabian Sea.

The ADB has invited representatives at ministerial level from Pakistan, Afghanistan, Tajikistan, Turkmenistan and Uzbekistan to the conference. Iran will be invited as an observer.