ACMECS for Mutual Development

The 3^rd ACMECS economic cooperation strategy meeting was held in Hanoi in early November with the participation of Prime Ministers of Laos, Cambodia, Myanmar, Thailand and Vietnam, countries of the three rivers: Ayeyawady, Chao Praya and Mekong. A joint statement has been approved to ensure ACMECS an efficient framework for cooperation in various fields.

 

Speaking at the meeting, Prime Minister Nguyen Tan Dung said that as the world and regional economies have been seriously affected by financial crisis, food and oil prices, ACMECS cooperation has become even more important. He believed that the meeting was an opportunity for leaders of the five countries to discuss and seek cooperation for peace, stability and development of the region, and called for continued bilateral and regional cooperation in the framework of ASEAN, ASEAN+3, APEC and ASEM.

 

In particular, the Prime Minister emphasized on the environment protection as a global issue. The three rivers play an important role in the sustainable development of ACMECS countries. Therefore, there must be effective plan for reasonable use of water resources and environment protection.

 

The prime ministers of the five countries agreed to promote ACMECS cooperation in trade, investment and tourism to prevent the impact of global economic recession.

 

For his part, Lao Prime Minister Bouasone Bouphavanh said that private sector and other partners should be given more opportunities to promote trade free from unnecessary administrative formalities and one-stop customs service be applied at border gates.

 

The five prime ministers also discussed and endorsed measures to promote cooperation in industry, energy, transport, tourism and health. Thai Prime Minister Somchai Wongsawat said that the five countries should develop investment mechanism in agricultural production to ensure higher income for farmers.

 

An ACMECS business forum was organized with the participation of some 350 businesses from ACMECS countries, international organizations and important investors from EU, Russia, Japan, Korea, US. It was an opportunity for ACMECS businesses to seek partnership inside and outside ACMECS region.

 

According to Mr Hoang Van Dung, VCCI Vice President, Chairman of Vietnam ACMECS Business Council, businesses play an important role in ACMECS cooperation as they develop the strategy and implement it themselves. The problem is the unequal development among member countries. Vietnamese businesses still lack information, skilled workforce and better customs service. It is most encouraging that Vietnamese businesses start doing business in regional countries. Mr. Dung advocated an early agreement on one-stop customs service for trade across borders, ACMECS travel cards for businesses and tourists to make five countries one destination, network of infrastructure, sea ports and power grids, storage and insurance among ACMECS countries.

 

Mr. Oknha Kith Meng, President of Cambodian Chamber of Commerce and Industry proposed increased cooperation in tourism, a comparative edge of the region, first of all tourism networks across border gates.

 

Meanwhile, Mr. Oudet Souvannavong, Vice President of Lao Chamber of Commerce and Industry, said that more border gates should be opened for trade and investment especially for infrastructure should be encouraged.

 

The President of Myanmar Business Council emphasized on cooperation in human resources development to introduce “fresh blood” into private sector as scholarship programme initiated by Thai government.

 

According to Mr. Pomsil Patchrintanakul, Vice President of Thai Business Council, the agricultural cooperation is most important for ACMECS countries and trade and investment activities should not be delayed.

 

For their part, ACMECS businesses believed that early agreement on one-stop customs service will accelerate border trade among the five countries.

 

At the meeting with ACMECS leaders, businesses called for an economic cooperation strategy to deepen economic integration in the region and made six recommendations: trade and investment favourization, tourism cooperation, infrastructure linkage, human resources development, agricultural cooperation and metropolitan connection.

 

At the meeting, Prime Minister Nguyen Tan Dung reaffirmed that economic cooperation is important for the Mekong Sub-region. In the present conditions of world economy, Vietnam can and will control the inflation, maintain macro-economic stability, continue fast and stable development, at the same time improve investment environment and ensure equal treatment and transparency for ACMECS businesses and investors in Vietnam.

 

Cambodian Prime Minister Hun Sen welcomed recommendations for trade and investment cooperation and said that agreement has been reached, the only question is the time of implementation. Favourable conditions have been created for business activities. However, there must be harmony and cohesion in the application among ACMECS countries.

 

The prime ministers encouraged businesses to participate more actively in ACMECS programmes and projects and highly valued Vietnamese initiative in organizing ACMECS leaders-businesses meeting to promote trade and investment cooperation.

 

At the press conference on November 7, Prime Minister Nguyen Tan Dung said that the 4^th CLMV (Cambodia-Laos-Myanmar-Vietnam) and the 3^rd ACMECS meetings were successful with specific and important achievements at the crucial time for development of ACMECS countries. The five prime ministers have also asked related authorities in their respective countries to study on the possible common currency for ACMECS countries.

 

The 5^th CLMV and 4^th ACMECS meetings will be held in Cambodia in 2010.