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Official Gazette

Monday, March 30, 2020

Summits enhance regional cooperation

Updated: 10:08’ - 01/12/2008

The reinforcement of cooperation between regional countries has become more necessary to boost the development of each nation, said Prime Minister Nguyen Tan Dung on November 6.

He made the statement at the opening ceremony of the fourth Cambodia-Laos-Myanmar-Vietnam (CLMV) Summit, held at My Dinh National Convention Center, noting that the group should accelerate economic cooperation within the Association of Southeast Asian Nations, which would help reduce negative impacts of the ongoing financial crisis in the world.

The summit would be a good opportunity for the four countries to exchange, discuss and work out specific measures for cooperation, promote potential and advantages on the principles of equality and mutual benefit, boost the development of each country, and strengthen economic links among these countries, Mr. Dung said.

In their joint declaration, the leaders of CLMV countries agreed to facilitate mutual investment through various incentives, particularly labor regulations and payment procedures, in such potential areas as crop production and processing, mineral exploitation, hydropower development, oil and gas exploration, telecommunications infrastructure development, and service provision.

At the third Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) summit held on November 7, the Prime Ministers of Cambodia, Laos, Myanmar, Thailand and Vietnam agreed to further boost socio-economic development and regional economic integration as well as trade and investment cooperation between ACMECS members, while working to quickly reduce development gaps with other ASEAN countries.

They discussed and approved detailed proposals aimed at promoting ACMECS cooperation in trade, investment, agriculture, industry, energy, transport, information technology, telecommunications, tourism, human resource development and health care.

The leaders approved a declaration of the third ACMECS summit, which stated the need for ACMECS countries to redouble their efforts individually and collectively to move the group forward effectively, not only for the interests and benefits of these countries, but also for the acceleration of economic integration and development in the Mekong sub-region.

They agreed to adopt the ACMECS Leaders’ Declaration on Facilitation and Promotion of Trade, Investment and Tourism, and strengthen the ACMECS Business Council as a bridge for enhancing partnership between governments and businesses.

They further agreed to encourage cooperation in technology transfer and promote information sharing in animal disease control and improve quarantine procedures and epidemics control at border gates.

They also agreed to facilitate investment in hydropower as well as oil and gas exploration projects, while promoting the development of power transmission lines and networks across ACMECS countries.-

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