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The pandemic opens an opportunity to reset CAREC’s aviation industry through green lanes and domestic tourism, among others.  

Policy challenges include the shift in financial intermediation away from traditional banks toward digital finance providers.

Better transport infrastructure and digitized border clearance procedures are essential to boost regional trade through rapid cargo movement.

CAREC countries can benefit from cross-border frequency regulation to boost grid stability and reduce costs.

E-payment gateways and streamlined customs clearance processes can promote regional collaboration and economic growth in digital trade.

Strengthening regional cooperation, diversifying exports, and streamlining trade processes can give Central Asia’s exports a push.

Efficient transport corridors can bolster participation of CAREC countries in regional value chains integration.

Developing regional value chains will promote trade and unlock the region’s unrealized economy.

FDI-recipient countries show positive growth in productivity but their technology gains depend on absorption capacity.

This study examines the impediments and gaps that hinder the growth of regional trade and ways to reverse declining trade efficiency.