Vietnam Time

6/16/2018 4:43:28 PM

PM proposes solutions to improve ACMECS cooperation

Prime Minister Nguyen Xuan Phuc suggested a number of measures to make the ACMECS cooperation more effective at the 8th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy Summit (ACMECS 8) that opened in Bangkok, Thailand, on June 16th.

Prime Minister Nguyen Xuan Phuc. (Photo: VGP)

He said it is necessary to push for coordination in the stance between the ACMECS members and their development partners and build a common voice on issues that need to be addressed and cooperation priorities.

Greater attention should be paid to the mobilisation of financial sources via initiatives such as the ACMECS Fund and ACMECS Infrastructure Fund and Trust, the Vietnamese PM noted.

He said that the ACMECS operation mechanism should be improved in order to be leaner and more effective, suggesting that the organisation of ACMECS meetings should be done in conjunction with events held by the ASEAN and other Mekong cooperation mechanisms.

The PM added that ACMECS needs to contribute more directly to and become an integral part of the ASEAN Community formation process through integrating the implementation of the ACMECS Master Plan with that of the ASEAN Community Vision 2025, the Master Plan on ASEAN Connectivity, and other ASEAN cooperation programmes.

The Vietnamese PM also recommended a number of specific contents for cooperation in transport connectivity, trade-investment, agriculture, tourism, environmental protection, natural resources management, and human resources development

Besides PM Phuc, the ACMECS 8 was attended by the State and governments leaders of Cambodia, Laos, Myanmar and Thailand.

Themed “Towards an Integrated and Connected ACMECS Community”, ACMECS 8 focused its discussions on measures to facilitate socio-economic development and improve the competitiveness of the member economies, while outlining the orientations for cooperation towards inclusive and sustainable development in the Mekong region.

The leaders shared the view that the Mekong region boasts a wide market, capable human resources, and a strategic geo-economic location connecting the Indian Ocean, and the Pacific and Asian markets.

The participants adopted the Bangkok Declaration and the ACMECS Master Plan for the 2019-2023 period with the goal of turning ACMECS into an economic hub with seamless connectivity and strong integration, on the three main pillars of hard infrastructure and soft infrastructure connectivity, and smart and sustainable development.

The summit also discussed Thailand’s initiative on establishing the ACMECS Fund and ACMECS Infrastructure Fund and Trust as a financing mechanism for cooperation projects in the region. The funds are said to support the implementation of prioritised projects in the ACMECS member countries.

The summit highlighted the role of businesses in and outside of the region, with the ACMECS CEO Forum and a dialogue between the ACMECS country leaders and CEOs of leading companies in the region taking place for the first time. This shows that the private sector is set to be an important partner of ACMECS in the future.

The ACMECS leaders also welcomed Vietnam’s hosting of the World Economic Forum on ASEAN in Hanoi from September 11th – 13th this year. They said it would be an opportunity to highlight the Mekong region as ASEAN’s new dynamic economic engine and promote entrepreneurship in ACMECS countries.

They agreed that Cambodia will host the 9th ACMECS Summit in 2020./.

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