A Memorandum of Understanding on cooperation has been signed between the Center for Analysis of Economic Reforms and Communication (CAERC) and the Central Asian Regional Economic Cooperation (CAREC) Institute of the Asian Development Bank (ADB). The document was signed by the executive director of CAERC, Dr. Vusal Gasimli, and CAREC director Kabir Jurazoda.

V. Gasimli emphasized the significance of cooperation between CAERC and CAREC, stating that this memorandum will enable the two institutions to conduct joint fundamental research and implement large-scale projects. He highlighted that these joint projects will contribute to the overall development of the region's countries and further improve relations among them.

K. Jurazoda expressed the importance that the institution he represents places on cooperation with Azerbaijani think tanks, including CAERC, and the interest in implementing joint projects.

During the signing ceremony, the potential for cooperation with the CAREC Institute in preparing the book "Middle Corridor: Current Situation and Future Prospects," a joint project of CAERC and the Karpaz Economic Forum, was discussed. The memorandum outlines measures to exchange knowledge, develop close cooperation and consultations in production and services, contribute to regional development and integration, organize various format events, conduct joint research, prepare printed materials, and address other relevant issues.

The ceremony was attended by Samad Bashirli, Deputy Minister of Economy of the Republic of Azerbaijan, Natig Shirinov, Deputy Chairman of the State Customs Committee, MPs Aydin Huseynov and Hikmat Mammadov, as well as representatives of international organizations and employees of CAERC.

It's worth noting that the CAREC Institute is an intergovernmental organization operating under the Ministerial Conference of the Central Asia Regional Economic Cooperation Program. It promotes regional cooperation and integration through the exchange of knowledge and experience. The institute, recognized as the leading think tank of the region, supports the common future and sustainable development of the region. The CAREC Program is a joint platform of 11 countries, including Azerbaijan.