Mongolia signs three cooperation documents during CAREC meeting

AKIPRESS.COM – Mongolia signed three documents to deepen regional economic cooperation during the 24th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference, held in Bishkek on November 20. The agreements aim to enhance trade, digital development, innovation, and tourism collaboration across the region, Montsame reported.

By signing the CAREC Trade and Investment Facilitation Partnership (CARTIF) declaration, Mongolia reaffirmed its commitment to reducing trade barriers, creating a transparent and flexible regulatory environment, and strengthening supply chain connectivity.

The country also signed onto the Innovation and Venture Investment (CIVIC Facility) initiative, creating new opportunities to support growth in startups and the technology sector, while enhancing access to regional investment. This initiative includes the establishment and phased expansion of regional funds.

Additionally, Mongolia indicated its intention to join the CAREC Digital Corridor memorandum, aimed at improving digital connectivity, internet infrastructure, and cybersecurity standards across the region, reported the Ministry of Economy and Development of Mongolia.

Mongolia also endorsed a memorandum on smart, sustainable, and inclusive regional tourism, enabling the development of cross-border travel products, digital visa services, and expanded private-sector collaboration.

Collectively, these documents carry strategic significance for advancing Mongolia’s regional integration, modernizing trade and logistics, strengthening digital infrastructure, fostering innovation, and boosting tourism competitiveness.