Mongolia is preparing to take a leading role in regional economic cooperation as it chairs CAREC in 2026. As part of its preparations, Mongolian officials recently held a strategic meeting with the Asian Development Bank (ADB). During the session, both sides discussed priorities, new projects, and regional initiatives for the upcoming ministerial conference.
In fact, Mongolia attracted over USD 1.4 billion in CAREC investments just last year. Out of this amount, 66 percent—or USD 978 million—was allocated to 12 transport-related projects. Notably, nine of these projects were supported by the ADB, highlighting its ongoing partnership with Mongolia.
These investments focus on western road development, healthcare, border infrastructure, and road maintenance programs. Moreover, they signal growing momentum in regional economic cooperation across trade, energy, and connectivity sectors. Since joining CAREC in 2003, Mongolia has consistently taken steps to modernize its national infrastructure.
Now, with the 2026 chairmanship ahead, the country seeks to expand its influence in Central Asia. At the meeting, participants discussed critical mineral value chains and regional trade enhancement opportunities. In addition, they explored Mongolia’s involvement in the Central Asia Trade and Investment Cooperation Agreement.
Furthermore, both parties highlighted the importance of joining the regional digital corridor for seamless cross-border trade. This would improve Mongolia’s integration into broader markets and enhance private sector participation. Likewise, discussions included creating a CAREC-wide capital market to support long-term investment growth.
Mongolia also expressed strong interest in digital development and water–energy connectivity across the region. Additionally, officials reaffirmed their goal to join Asian Highway Corridor II, linking Asia directly to Europe. This step, if realized, would further boost logistics and trade efficiency for landlocked Mongolia.
To commemorate CAREC’s 25th anniversary, Mongolia will lead a three-phase plan for new regional initiatives. This roadmap will also ensure high-level engagement during the 2026 Ministerial Conference. Clearly, Mongolia views regional economic cooperation as a strategic tool for sustainable growth and regional influence.
Looking ahead, its leadership in CAREC could redefine connectivity, trade, and investment across Central Asia. Ultimately, this reinforces the country’s long-term vision for integration and economic resilience.
