Joint workshop on economic diversification with the CAREC Institute

16-17 May 2019 | Ulaanbaatar, Mongolia

The CAREC Institute has partnered with UNIDO to deliver a workshop on economic diversification in the CAREC region. It aimed at deepening the understanding of characteristics of resource dependent economies, importance of industrial development strategies, particularly export oriented industries, to achieve economic diversification, and enhance capacity of CAREC countries to improve their competitiveness.

The workshop lasted for two days. It delivered lectures, panel discussions, and country case studies. It also featured an exercise giving participants an opportunity to exchange their views on the current state on promoting economic diversification in their countries as well as to from their peers.

The two-day event gathered 20 policymakers from all 11 CAREC member states.

The workshop was opened by Mr. Bayaraa Sanjaasuren, Director of the CAREC Institute, Mr. Sanjaa Narantsogt, State Secretary of the Ministry of Finance of Mongolia and, on behalf of UNIDO, Mr. Frank Hartwich.

Lectures were delivered as follows:

Day 1:

  • Why diversification matters (Frank Hartwich, UNIDO)
  • Pathways towards diversification (Rajah Rasiah, University of Malaya)
  • Export diversification: challenges for CAREC count (Enkhbaigali Byambasuren, Director of Institute for Strategic Studies Mongolia)
  • Diversification in the Republic of Korea (Sanghoon Kim, Director, Korea Institute for Industrial Economics & Trade (KIET))

Day 2:

  • Diversification in Malaysia – a case study (R. Rasiah
  • Diversification in Mongolia – a case study (B. Enkhbaigali
  • Diversfication in Azerbaijan – a case study (Rovshan Mahmudov, Senior Trade Officer of CAREC Institute)

The last two Sessions were dedicated to a group work exercise where participants worked in small groups identifying the biggest challenges to diversification in their countries and explored potential solutions.