Wednesday, November 13, 2019

GMS nations agree to steps on transport, and trade

Jun 12. 2015
Facebook Twitter


2,579 Viewed

GOVERNMENT ministers and senior officials attending the seventh "Economic Corridors Forum" of the Greater Mekong Subregion have agreed on measures to facilitate cross-border transport and trade and enhance private-sector participation.

The GMS consists of five countries that share the Mekong River – Cambodia, Laos, Myanmar, Thailand and Vietnam – plus China’s Yunnan province.

“GMS leaders strongly committed their countries to promoting trade, tourism, industrial development, and other economic activities along GMS economic corridors,” said Stephen Groff, vice president of the Asian Development Bank (ADB).

“The development of new special economic zones, support for e-commerce, and other activities that will be undertaken following [Thursday’s] forum will have a transformative impact for businesses and communities in every GMS nation.”

In a joint statement, ministers and senior officials from the six GMS members called for an action programme to facilitate transport and trade, enhancing the cross-border flow of goods and people, and for a coordinated approach to developing urban areas throughout the region.

They also endorsed the Framework on GMS Cross-border E-commerce Cooperation, which seeks to advance the development of cross-border e-commerce through shared consumer markets.

The GMS representatives likewise emphasised the need to boost trade through further development of economic corridors, with a focus on developing specific sections.


Facebook Twitter
More in Business
Editor’s Picks
Top News