Developing The Services Sector For Economic Diversification In Carec Countries

This study underscores the potential for greater economic diversification through robust development of seven key services subsectors and industries in members of the Central Asia Regional Economic Cooperation (CAREC) Program. The services sector is becoming a key driver of economic development in most CAREC members. The economies in the region also need to adopt a coherent and comprehensive approach to the balanced development of these interdependent services subsectors. Enabling conditions such as good governance, competitive markets, strong regional cooperation and integration, efficient labor markets, and high quality physical and digital infrastructure are crucial.

This publication discusses how the Central Asia Regional Economic Cooperation Program (CAREC) can enhance trade by addressing key challenges, including poor market access, limited economic diversification, and weak institutions for trade. CAREC's new trade strategy leverages on the successes of past CAREC trade work built on mutual trust and collective efforts. It is designed to foster deepened regional cooperation and integration. The CAREC Program is a partnership of 11 countries---Afghanistan, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, the People's Republic of China, Tajikistan, Turkmenistan, and Uzbekistan---to promote development and lead to accelerated growth and poverty reduction.

Digital trade promotion has been a long-standing priority for CAREC member countries, as part of their integration into global value chains and economic diversification. This study examines the legal environment on electronic transactions as well as the opportunities and challenges in expanding electronic commerce in the CAREC region. It makes a case for modernization and harmonization of laws of CAREC countries leveraging on international instruments and best practices for electronic commerce transactions. Adequate legislation to protect personal privacy and consumers’ rights and combat cybercrime is also crucial. Finally, institutions must be built with trust, within and among countries and through regional cooperation.

Development and Modern Industrial Policy in Practice provides an up-to-date analysis of industrial policy. Modern industrial policy refers to the set of actions and strategies used to favor the more dynamic sectors of the economy. A key aspect of moder

This publication explores how international trade is promoting economic empowerment through the increased participation of women and micro, small, and medium-sized enterprises. It highlights the roles of services and digital connectivity in facilitating diversification and inclusive economic transformation. The report examines recent trends in aid for trade in Asia and the Pacific and how it can do more to boost inclusive growth.

In recent years, Kazakhstan has developed a comprehensive digital government system and begun to create the legal and regulatory conditions for the digital transformation of the country’s economy. The digitalisation of the private sector requires further improvements in framework conditions, such as reliable access to broadband services, quality and affordability of networks, and digital security for businesses.

The Lao People's Democratic Republic (Lao PDR) has shown remarkable progress by consistently building itself into a market-oriented economy, with economic growth in 1986-2016 averaging around 6.5% per annum. The rapid and sustained growth brought about changes in the structure of output, but did not alter job composition: resource-based products still dominate in industry, low value-added jobs in services, and 65% of the labor force in agriculture. This country diagnostic study provides comprehensive analysis and identifies promising new drivers of growth which the Lao PDR can develop to diversify its production structure and speed up structural transformation.