For the first time in history, freight trucks of Thailand and Vietnam are able to enter into one another's territories for the first time to deliver and pick up goods following formal exchange of traffic rights and introduction of a regional customs transit system on June 11, 2009. Vietnam and Thailand introduced a formal exchange of traffic rights and a regional customs transit system between the two countries and Laos at two pairs of international border gates on the East - West Economic Corridor: Lao Bao (Vietnam) - Densavan (Laos) and Savannakhet (Laos) - Mukdahan (Thailand).
Overland shipments between Thailand and Vietnam along the East-West Economic Corridor, which runs from Danang in Vietnam through Savannakhet in Laos and into Thailand, can now proceed directly to their final destination without having to unload and re-load in Laotian territory.
The latest initiative, together with the recently implemented single-door and single-stop border inspections, will sharply reduce overland transport time and boost trade and economic development.
Initially, 1,200 vehicles (400 vehicles from each country) have been provided with permits to enter the other countries. Under the Cross Border Transport Agreement, some goods shipments can be certified as "low risk", allowing the shipments to be fast-tracked at border-crossing checkpoints. Container seals will now be routinely accepted for the duration of the transit route, which will impede theft and damage previously caused by multiple container opening and unloading.
Mr Arjun Thapan, Director of the Asian Development Bank's Southeast Asia Department said ten years after Laos, Thailand and Vietnam first agreed to ease cross-border traffic rules, the promise of that agreement is truly being realised. ADB first supported the development of the East-West Economic Corridor through a US$57-million concessional loan in 1999, primarily to fund the construction and upgrade of roads in Vietnam and Laos.
According to Mr Thapan, building international-standard roads was an important start, but not enough by itself. Governments also had to slash the bureaucratic red tape that restricted the cross-border flow of goods and people. He added, with such progresses, commerce and tourism would further develop. Now, you can depart from Thailand, work in Laos and have dinner in Da Nang (Vietnam) within one day.
Since the completion of the second Mekong Bridge in December 2006 - the last link of the corridor - trade has already dramatically increased.
The formal exchange of traffic rights and introduction of a regional customs transit system are expected to further reduce transport costs, producing even more dramatic increases in inter-regional trade volumes.
The introduction was held prior to the opening of the 15th GMS ministerial meeting. This event will be held from June 17 - 19 in Petchburi province, Thailand. Officials from six GMS nations will discuss measures to strengthen traffic connection, commerce and tourism, to enhance competitiveness, improve access to social services, enhance energy security and energy utility, and protect the environment.
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