China commits to contributing to GMS development

Hanoi (VNA) – China will remain committed to pursuing common development of the GMS countries, said Wang Yi, State Counsellor and Minister of Foreign Affairs of the People’s Republic of China, at the Greater Mekong Sub-region (GMS) Business Summit in Hanoi on March 30.

He highlighted profound changes in the international landscape and the world economy, and development opportunities of the GMS, expressing his confidence in the prospect of GMS cooperation.

Wang attached significance to strengthening cooperation with, and providing strong impetus for the development of the neighbouring countries, saying that the GMS will be the first to hear the steps of China’s opening and share its dividends.

“We look forward to the active participation of the GMS countries and your business communities to enhance our all-round cooperation”, he said.

He also underlined geographical proximity, cultural affinity and interconnected interests, and a strong position for cooperation among the GMS nations.

As a member of the GMS, China sees its own development and future closely linked with those of the other sub-regional countries. China is the biggest trading partner of Cambodia, Myanmar, Thailand and Vietnam, and the second biggest of the Laos. China’s investment in the five other GMS countries has topped 40 billion USD.

In 2017, trade between China and the five GMS countries reached 220 billion USD, and 30 million visits were exchanged between China and these nations.

Through concessional loans and special credit line for industrial capacity cooperation, China has given support to over 20 big infrastructure and industrialisation projects in those countries. Construction has started on the key projects of the China-Laos railway and China-Thailand railway.

Neighboring countries have also been the first to benefit from China’s development. China will keep to the policy of amity, sincerity, mutual benefit and inclusiveness to pursue partnership and friendship with the other GMS countries.

In a spirit of partnership, China is ready to deepen mutual political trust and practical cooperation with the other GMS countries to advance regional development and our people’s well-being.

He called on the GMS nations to work together to keep the sub-region on the track of fast yet stable development, promote strong growth of the Asian and world economies, and contribute to the building of a global community with a shared future.-VNA