Ministers from the six countries of the Greater Mekong Subregion (GMS) will meet in Hanoi on 20 August for the 16th GMS Ministerial meeting.

They will discuss broad directions for the GMS long-term strategic framework covering the next ten years (2012-2022).

Under the theme, "GMS in the next decade: New frontiers of cooperation", representatives from Cambodia, China, Laos, Myanmar, Thailand, and Vietnam, along with officials from the Asian Development Bank (ADB), are expected to also endorse a plan of actions for improved transport and trade facilitation in the GMS, which will help bolster economic growth in the wake of the global financial crisis.

Since 1992, the six GMS countries have participated in a comprehensive program of economic cooperation covering transport, energy, telecommunications, human resource development, environment and natural resources management, trade facilitation, private investment, tourism, and agriculture with the support of ADB and other development partners.

"In just one generation, Mekong nations have moved from conflict to economic cooperation, making dramatic progress in fighting poverty and fostering greater prosperity. With the foundation being established for the next decade, we expect the GMS countries to move their regional cooperation to even higher levels, encompassing second-generation initiatives in software issues related to infrastructure connectivity”, said Kunio Senga, Director General in ADB’s Southeast Asia Department.

The ADB official hoped that the GMS countries, through their respective ministers, will chart measures to strengthen physical infrastructure, streamline cross-border transactions and transport costs, improve business environment, and ensure social and environmental protection in the subregion.

ADB promotes regional cooperation in Asia and the Pacific to help developing countries address regional challenges and opportunities through collective actions. Such multi-country economic development efforts contribute to increased trade and investment and overall economic growth while also improving regional stability.

Besides, ADB supports GMS nations’ efforts to modernize through the construction of international-standard roads, ports, railways, power generation facilities, clean water and sanitation services.

The Bank also provides support for "soft sector" enhancement, including trade and transport agreements, and works with Mekong nations to enhance environmental protection measures, support clean energy solutions, and bolster climate change mitigation efforts.

Source: CPV/ATP