Leaders of Vietnam, Laos, Cambodia, Thailand, and Myanmar pledged to continue moving towards a dynamic and prosperous Mekong sub-region during two international summits organized in Hanoi.
The 8th Cambodia- Laos- Myanmar- Vietnam (CLMV) Summit and the 7th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) officially kicked off in the Vietnamese capital on Wednesday with attendance from the president of Myanmar and prime ministers from Cambodia, Laos, Thailand, and Vietnam.
Speaking at the CLMV Summit, Vietnamese Premier Nguyen Xuan Phuc asserted that his government would exert all efforts to meet the demands of the people, improve its political system, human resources, and infrastructure, and simplify administrative procedures for domestic and foreign investors.
In a joint statement released after the conference, leaders of the CLMV bloc listed challenges faced by nations in the region regarding climate change, infrastructure, and more.
They all agreed that now is a critical time for regional development, pledging to “move forward with both domestic reforms and closer regional integration to sustain growth momentum and strengthen CLMV’s competitiveness.”
The four parties were also committed to maintaining macroeconomic stability and creating a favorable environment for businesses to flourish and for people to fully reach their potential.
Vietnamese Prime Minister Nguyen Xuan Phuc (L, 3rd) and leaders of the Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) countries in Hanoi on October 26, 2016. Photo: Vietnam News Agency
The governments reached consensus to carry out measures to link their economies and markets for the interests of all parties.
In terms of transport cooperation, the construction and upgrade of roads along the North – South Economic Corridor (NSCE), East – West Economic Corridor (EWEC), and the Southern Economic Corridor (SEC) will be expedited.
An expressway between Vientiane and Hanoi will also be constructed to facilitate the movement of goods and people between the two capitals.
Each leader will strive to boost ties in trade and investment, industry, tourism, and human resources development.
They consented to strengthen the synergy between CLMV, the ACMECS and other relevant sub-regional cooperation frameworks.
During the ACMECS meeting, high-ranking delegates agreed to step up collaboration in many fields, according to the Vietnam News Agency.
According to PM Phuc, ACMECS countries should work together for market expansion and encourage enterprises to join the green supply chain, while preparing to take full advantage of the science and technology revolution.