BEIJING, June 27 -- The top Chinese legislature on Tuesday ratified an agreement on the establishment of the Central Asia Regional Economic Cooperation (CAREC) Institute.

The agreement was approved at the closing meeting of the bi-monthly session of the National People's Congress (NPC) Standing Committee.

It said that as a proposed inter-governmental organization, the institute aims to enhance economic cooperation in the CAREC region by providing information and supporting training.

The online version of the institute was established in 2007.

The idea of establishing a physical base and having its own staff was approved at the 11th Ministerial Conference held in central China's Wuhan city in 2012.

With headquarters in China, member countries of the institute can set up branches in their own countries, according to the agreement.

So far, the agreement has six signatories including China, Pakistan, Uzbekistan, Kyrgyzstan, Afghanistanand Mongolia.