Volume 24, Issue 104 , February 2019, , Pages 1-32
Abstract
Central Asia Regional Economic Cooperation (CAREC) is a regional union of eleven countries in Central Asia, ...
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Central Asia Regional Economic Cooperation (CAREC) is a regional union of eleven countries in Central Asia, South Asia, South Caucasus and China. This program was established in 2001 by the Asian Development Bank (ADB) and has some noticeable achievements in four areas of transportation, energy, trade facilitation and trade policies. It tries to promote energy security in the region through the CAREC Energy Strategy and Work Plan. The present article attempts to find an answer for the following question: Does CAREC Energy Strategy and Work Plan has the potential for promoting energy security in Central Asia, and why? The author argues that although CAREC is the most important regional initiative for energy provisions in Central Asia, it lacks a proper potentiality for promoting energy security in Central Asia due to prioritizing bilateral and multilateral projects instead of inclusive regional ones; focusing on benefit making for investors instead of transfer of technology to the region; and its instability. Using explanatory – analytical method and through a documentary – library research, the author tries to tell why the research findings provide an answer to the research question.
