These former Soviet republics face undaunting constraints to economic development. They constitute a relatively large geographic area that is distant and, until recently, isolated from the modern market economies of Western Europe and Asia. Until 1991, their economies were controlled by the Soviet Union. The breakup of the Soviet Union left these countries with little demand for their products and few sources for needed raw materials and manufactured goods. Economic growth and development for each of these countries depend on creating new markets and sources of raw materials.
Economic cooperation is essential for realizing their development objectives.
Through regional technical assistance, ADB explored opportunities to enhance economic development by increasing cooperation in the region. The aim of the assistance is to help the governments identify and prioritize development projects that will increase trade and other types of economic cooperation, both among themselves and with other trading partners in the region. The Bank is looking at the potential resource and market complementarity among the members of the CARs and the Xinjiang Uygur Autonomous Region, the far western territory of the People's Republic of China, which shares borders, economic interests, and cultural ties with the CARs.