GMS sets 2012 economic integration targets

The leaders agree to accelerate the construction and improvement of the remaining sections of GMS corridors and expand the corridor network through multimodal linkages

Leaders of the Greater Mekong Subregion (GMS) endorsed the Vientiane Plan of Action for GMS Development for 2008-2012, at the Third GMS Summit on Monday in Vientiane , confirming the commitment of member countries towards economic integration of the subregion.

The plan was stipulated in a joint declaration signed by GMS leaders at the closing ceremony of the summit on Monday.

The leaders agreed to accelerate the construction and improvement of the remaining sections of GMS corridors and expand the corridor network through multimodal linkages.

They also agreed to help establish a sustainable and efficient GMS energy supply market and further develop telecommunications infrastructure linkages and promote the use of information and communications technology.

The summit was opened by Lao Prime Minister Bouasone Bouphavanh, who commented on the successful GMS economic cooperation of the past 15 years.

The summit was held under the theme ‘Enhancing Competitiveness through Greater Connectivity' and aimed to deepen GMS economic cooperation and realise the common vision of an integrated, harmonious and prosperous subregion.

The development cooperation for the period 2008 to 2012 will cover nine sectors including transport, energy, telecommunications, agriculture, environment, tourism, human resources development, trade facilitation and investment.

Lao Deputy Prime Minister Dr Thongloun Sisoulith said at a press conference yesterday that the summit had achieved much and raised hopes for future GMS cooperation and commitments.

“The GMS leaders discussed enhancing competitiveness in the subregion to create increased investment and trade,” Dr Thongloun said.

Vice President of the Asian Development Bank (ADB), Mr C. Lawrence Greenwood, said at the press conference that when GMS cooperation first began 15 years ago, very few people would have guessed that the countries involved would be as economically successful as they are today.

He explained that the strong commitment of GMS countries to work together and use economic integration as a tool to drive growth and reduce poverty has been an important part of the success.

This summit in particular focused on how, through the use of regulations and capacity building, government institutions can translate hardware infrastructure, such as roads and power transmission, into economically beneficial activities, Mr Greenwood said.

The ADB provides one third of the resources us ed for development; Japan , Australia and Scandinavian countries donate one third, and the other third is provided by GMS member countries, he said.

Laos is the only land-locked country in the region and the Lao government attaches great importance on road links to integrate its economy with neighbouring countries.

On Monday several events were held as part of the summit, including a ceremony for the successful completions of Route R3 along the GMS North-South Economic Corridor and Phase I of the GMS Information Superhighway Project.

There was also a signing ceremony for Memorandums of Understanding on the Road Map for Implementing the GMS Cross-Border Power Trading, Sustainable and Balanced Development of the GMS North-South Economic Corridor, and Enhanced Organisational Effectiveness for Developing Economic Corridors.

Events held on Sunday included a GMS Business and Investment Dialogue, Youth Forum, GMS photo exhibition and the signing of an agreement for the inclusion of the Nanning-Hanoi corridor and the Youyiguan-Huu Nghi border crossing point in the scope of the GMS Cross-Border Transport Agreement between China and Vietnam .

The first GMS summit was held in Phnom Penh , Cambodia , in November 2002. Th e second was hosted by Kunming , China , in July 2005.

Six countries - Laos , China , Vietnam , Myanmar , Thailand and Cambodia - entered into the GMS cooperation framework in 1992 to boost economic cooperation among member countries.

 

By Somsack Pongkhao
(Latest Update April 1, 2008)