Economic ministers of Cambodia, Laos, Myanmar and Vietnam discussed measures to fight COVID-19 and revive economic activities, particularly in border areas, at an online meeting on August 24.
They also shared initiatives and measures to help tackle difficulties for the business community in trade and investment at the 12th Cambodia, Laos, Myanmar and Vietnam (CLMV) Economic Ministers’ Meeting which was held as part of the 52nd ASEAN Economic Ministers’ Meeting.
|The 12th CLMV Economic Ministers' Meeting was held online__Photo: VNA|
Vietnamese Minister of Industry and Trade Tran Tuan Anh said the COVID-19 pandemic has led to the interruption of many supply chains and economic and commercial activities. The pandemic has also harmed the implementation of projects and activities within the CLMV Action Plan for 2020.
These difficulties pose great challenges to CLMV countries in fighting the disease while taking measures to recover the economy.
Minister Anh suggested CLMV countries increase co-operation in policies and measures to tackle difficulties caused by COVID-19 and support the connection of businesses as well as deal with difficulties for businesses in import and export activities and remove barriers in border trade activities.
To ensure the operation of supply chains, support businesses and help resolve reductions in trade exchanges between CLMV countries, Anh proposed countries pay attention to facilitating and streamlining processes and procedures relating to import and export activities at border areas as well as enhance transport and logistics connection.
He also suggested countries have new co-operation projects in research and training, capacity improvement and technical support in the digital economy, innovation, start-ups and transport, logistics and commercial linkage.
CLMV countries also needed to share information and experience in policy building and creating a favorable environment to welcome a wave of investment shifting, particularly during the context of the COVID-19 pandemic, to make CLMV an attractive and important destination for investors, he said.
Ministers agreed with Anh’s recommendations and agreed to enhance co-ordination to reduce the impacts of COVID-19 on economic activities of countries and keep trade and investment flows.
At the meeting, CLMV ministers reviewed and assessed the implementation of the CLMV Action Plan on Economic Cooperation during the 2019-20 period.
Minister Anh proposed countries proactively and flexibly adjust contents and implementation methods of activities that have not been executed or cancelled due to COVID-19 with priorities to applying information technology to host virtual meetings in line with the theme of 'Cohesive and Responsive' for ASEAN 2020.
The ministers approved the action plan on economic co-operation for 2020-21 with focus on five key areas, including trade and investment cooperation, implementation of regional commitments, post-pandemic recovery plan, CLMV development framework and human resources development.
The ministers agreed to entrust heads of Senior Economic Officials Meeting (SEOM) to increase co-ordination activities in proposing new projects in line with co-operation and development demands in the new context.- (VNS/VLLF)