Methods to expand economic corridors to create favourable condition for the flows of labour and products in the Greater Mekong Sub-region (GMS) were discussed during the Fourth Economic Corridors Forum (ECF-4) on June 28.

The forum took place in Myanmar ’s Mandalay city, with the participation of ministers and senior officials from six GMS member countries, including Cambodia , China , Laos , Myanmar , Thailand and Vietnam .

With the theme “Towards Implementing the New GMS Strategic Framework (2012-2022): Expanding, Widening, and Deepening Economic Corridors in the GMS”, the forum focused on the investment directions and implications of the new strategic framework for the GMS Programme, and ways to effectively implement the new strategy. The ECF also reviewed potential new alignments of the economic corridors in the GMS founded on both trade and investment flows and economic analysis, the increasing emergence of Myanmar , and requests of other GMS countries.

The conference also deliberated about issues constraining the development of the economic corridors, and proposed actions needed to accelerate the development guided by the new strategic framework.

The ECF has been paying attention to challenges limiting the development of GMS corridor, including the lack of infrastructure, logistics services and the inconvenient procedures of customs clearance.

Countries participating in the ECF-4 agreed on refining institutional framework for effective delivery of corridor development projects, affirming that the expansion of GMS corridor needs to be implemented in conformity with national goals, relevant trade flows and common interests of the region.

With its capacity and function, the Asian Development Bank (ADB) is providing technical assistance to set up a regional investment framework and develop investment of projects of next generations of GMS.-VNA