Proposal for Cambodia-Laos-Myanmar-Vietnam to support each other in implementing FTAs

The 16th Cambodia-Laos-Myanmar-Vietnam Economic Ministers' Meeting (CLMV EMM 16) took place in Vientiane, Laos. This is a conference within the framework of the 56th ASEAN Economic Ministers' Meeting (AEM 56) and related conferences held from September 15 to 22, 2024.

The conference was attended by the Heads of Delegations from Laos, Cambodia, Myanmar, Vietnam and ASEAN Secretary General Kao Kim Hourn. The Head of the Lao Delegation, Lao Minister of Industry and Trade Malaithong Kommasith chaired the conference.

Đề xuất các nước Campuchia-Lào-Myanmar-Việt Nam hỗ trợ nhau trong thực thi các FTA

The Vietnamese delegation led by Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan attended the 16th Cambodia - Laos - Myanmar - Vietnam Economic Ministers' Meeting (CLMV EMM 16).

The Vietnamese delegation was led by Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan. The delegation included representatives from the Asia-Africa Market Department, the Multilateral Trade Policy Department, the Trade Promotion Agency, representatives from the Ministry of Foreign Affairs of Vietnam and Ho Chi Minh City University of Technology (the unit that proposed the project to be funded within the framework of CLMV cooperation).

The 16th CLMV Economic Ministers' Meeting focused on discussing the following contents: First , the economic, trade and investment situation of Cambodia, Laos, Myanmar and Vietnam. Second , the implementation of the CLMV Action Plan for the period 2023-2024. Third , the approval of the CLMV Action Plan for the period 2024-2025. Fourth, the progress of the implementation of the "Action Plan for the Implementation of the CLMV Development Framework". Fifth, the terms of reference of the CLMV Senior Economic Official (CLMV SEOM TOR).

In their opening remarks, the Ministers expressed their sympathy and sympathy with Vietnam, Laos and Myanmar for the severe impacts and damage caused by Typhoon Yagi. The Ministers expressed their solidarity and hope that the countries will soon overcome the consequences of the typhoon and bring people's lives back to normal.

At the Conference, the Heads of Delegations of the countries shared their views that trade between CLMV countries and the world has grown positively in recent times. CLMV countries, especially Vietnam, continue to be an attractive destination for foreign investment.

According to official data from the ASEAN Secretariat, the trade exchange of the four countries of Cambodia, Laos, Myanmar, and Vietnam with the world in 2023 reached approximately 769 billion USD, accounting for 21.8% of the total trade exchange value of ASEAN with the world (21.6% in 2023). The economic growth of CLMV continues to be forecasted at a positive level, possibly reaching 4.6% for 2024 and 4.7% for 2025.

Deputy Minister Nguyen Sinh Nhat Tan highly appreciated the efforts of CLMV countries in promoting economic, trade and investment activities.

Speaking at the Conference, Deputy Minister Nguyen Sinh Nhat Tan highly appreciated the efforts of CLMV countries in promoting economic, trade and investment activities over the past year, since the 15th CLMV Economic Ministers' Meeting held in September 2023, in the context of the regional and world economies continuing to face many difficulties and challenges.

To maintain positive growth momentum, Deputy Minister Nguyen Sinh Nhat Tan suggested that CLMV countries continue to coordinate and support each other in effectively implementing free trade agreements (FTAs) to which the four countries are members, continue to improve the investment and business environment, develop transport infrastructure, energy, telecommunications infrastructure, digitalization, human resource development, strengthen measures to support businesses, and further consolidate each country's position in regional supply chains.

The heads of the CLMV delegations highly appreciated Vietnam’s role and thanked Vietnam for its active support for CLM countries in attending trade fairs, seminars, and scholarship programs for CLM students organized by Vietnam every year. The heads of the delegations also encouraged the replication of this scholarship model in the ASEAN region.

The heads of delegations adopted the CLMV Action Plan for the period 2025-2026 and assigned the Senior Officials of Cambodia, Laos, Myanmar and Vietnam to strengthen the coordination role of agencies and units in charge of activities/projects in the Action Plan and promote the effective implementation of the Plan.

At the end of the Conference, the Heads of Delegations of Cambodia, Laos, Myanmar and Vietnam adopted the joint press release of the 16th Cambodia-Laos-Myanmar-Vietnam Economic Ministers' Meeting.

The Heads of Delegation affirmed that they will continue to cooperate closely to promote cooperation among the four CLMV countries, bringing the CLMV region to develop strongly and sustainably, towards becoming an upper-middle-income economy by 2030 and contributing to realizing the goals of the ASEAN Economic Community (AEC) 2025 Master Plan.

Comment (0)