On November 20, 2025, in Bishkek, Kyrgyz Republic, the 24th Ministerial Conference of the Central Asia Regional Economic Cooperation (CAREC) took place. During this event, Mongolia signed three key agreements aimed at strengthening economic ties in the region. These documents focus on expanding cooperation in trade, innovation, digital progress, and tourism.
One of the signed documents was the CAREC Partnership Declaration on Trade and Investment Facilitation (CARTIF), which confirms Mongolia's intention to reduce trade barriers, improve the legal environment, and enhance the interconnectedness of supply chains. Additionally, the country joined the "Innovation and Venture Investments" initiative (CIVIC Facility), creating new opportunities for startups and the tech sector, as well as expanding access to investments in the region. This initiative also envisions the establishment and phased development of regional investment funds.
Mongolia also expressed its desire to join the CAREC Digital Corridor memorandum, aimed at improving digital connectivity, developing internet infrastructure, and enhancing cybersecurity standards across the region, as reported by the Ministry of Economy and Development of Mongolia.
In addition, Mongolia supported a memorandum concerning intelligent, sustainable, and inclusive tourism, which will help develop cross-border tourism products, digital visa services, and cooperation with the private sector. All these documents are strategically significant for Mongolia's integration into the region, modernization of trade and logistics, strengthening of digital infrastructure, stimulating innovation, and enhancing competitiveness in the tourism sector.
CAREC is an alliance of 11 countries and development partners that work together to promote sustainable economic growth and reduce poverty. The program actively implements practical regional projects and political initiatives that contribute to economic progress. Since its establishment in 2001 until December 2023, CAREC has managed to attract investments totaling $51.602 billion, which has facilitated the creation of multimodal transport networks, increased energy trade volumes, improved security, and the free movement of people and goods, laying the foundation for the formation of economic corridors.
