Member states of the CLMVT (Cambodia, Laos, Myanmar, Vietnam, Thailand) sub-region have agreed to tighten cooperation and consider a single visa in order to promote closer integration and connectivity, and ensure common sustainable prosperity.
Thailand’s Prime Minister Prayuth Chan-ocha stressed that the geographical advantages of the CLMVT area, located between the Indian and Pacific Oceans, have enabled it to attract investment and foster the development of industry and tourism.
The Thai PM, who spoke at the first forum of the CLMVT held this month, stressed that cooperation among member nations will help the region achieve this goal, said a news report released by VGP News.
Vietnam’s Deputy Minister of Industry and Trade Nguyen Cam Tu also emphasized that as the continental part of the bigger group of the Association of Southeast Asian Nations, CLMVT should develop its strength as the connection point of ASEAN with major partners like India, China, Japan, South Korea, Australia ,and New Zealand.
The CLMVT countries need to find ways to maximize the sub-region’s advantages and overcome trade restrictions to narrow the development gap with its other ASEAN neighbors and create an impetus for the success of the ASEAN economic community, Tu added.
The idea of a single visa for the CLMVT also gained support at the forum, being seen as a means to resolve the complicated visa procedures that hamper tourism efforts of the sub-group.
The CLMVT governments were also asked to simplify cross-border procedures and upgrade local infrastructure and agro-logistic services in order to provide better storage and delivery services for perishable goods.
The forum also heard that after decades of developing a large manufacturing base in Thailand, Japanese companies are now increasing their investments in Cambodia, Laos, Myanmar, and Vietnam to take advantage of low labor costs, plentiful natural resources, and emerging markets.
The enhanced Japanese investment in all CLMVT states will benefit both sides, the forum learned.
CLMVT + China
As this developed, companies and organizations from the CLMVT and China have established a business alliance to build a cross-border e-commerce platform linking the six countries along the Mekong River.
The alliance, announced at a recent forum on the Greater Mekong Sub-region (GMS) held in Kunming, Yunnan, China, is expected to boost cross-border trade through e-commerce, said Yi Hong, chairman of the alliance.
The GMS Economic Cooperation Program was launched in 1992 by CLMVT and China with the aim of supporting regional infrastructure projects as well as promoting trade, investment, and economic development.
Members of the alliance include e-commerce institutions, trade promotion institutions, and e-commerce companies, said VGP News in a recent report.
The platform, to be available in English and the six languages of the member countries, will provide training programs to encourage new companies to focus on e-commerce transactions.
As many as 100,000 commodity categories are expected to be traded in the early stage.
Photo: Kiensvay
