The Asian Development Bank (ADB) under the project of Central Asia Regional Economic Cooperation (CAREC) has tried to evolve the regional incorporation. And, CPEC amplifies the trade volume and endorses economic cooperation. Therefore, ADB considers China Pakistan Economic Corridor is the essential approach. Pakistan became the part of CAREC in 2010 for establishing trade and transport connectivity in the region.
CARCE can nurture trade and economic cooperation
There has been a scary decline of 37% in Pakistan exports for the last five year. So, China has decided to release more than $60 billion under CPEC to ameliorate the condition of power, infrastructure, transportation in Pakistan. CAREC has also invested $1.5 billion in strengthening trade and economy of Pakistan till now. The government is now also realizing the importance of trade cooperation and economic links. The trade with Afghanistan and collaboration in other socio-economic projects is the shining example of this cooperation.