Vietnam, Laos, Cambodia boost economic cooperation for sustainable development

Participants at the working session (Photo: Gia Lai newspaper) 

Gia Lai (VNA) - A joint delegation of the National Assemblies (NAs) of Vietnam, Laos and Cambodia had a working session with officials of Vietnamese localities in the CLV Development Triangle area in the Central Highlands province of Gia Lai on October 18.

The meeting is a part of the first joint field survey by the three NAs in localities in the Development Triangle, and is an important activity in preparation for the first Vietnam – Laos – Cambodia Parliamentary Summit in December this year.

Established in 1999, the CLV Development Triangle has promoted its role as an effective mechanism, connecting the three neighbouring countries, ensuring peace, security, and politics, and promoting poverty reduction and socio-economic development in the region.

In his opening remarks, Chairman of Vietnamese NA's External Affairs Committee Vu Hai Ha expressed the hope that at the meeting, leaders of ministries and sectors will submit reports on cooperation in the triangle in terms of foreign affairs, economics, culture – society, defence – security, which serve as the basis for participants to discuss and make proposals on enhancing the three NAs' role in promoting cooperation and connectivities among the three economies towards sustainable development.

Cambodian and Lao officials highly valued the field survey, saying that it will contribute to further tightening the friendship and solidarity between the three countries, thus developing policies and institutions to jointly promote economic development and integration, and maintain security and defence in the region.

At the meeting, representatives from the Central Highlands of Gia Lai, Kon Tum, Dak Nong, and Dak Lak, and the southern province of Binh Phuoc made recommendations to strengthen the role of the three countries' parliaments in promoting cooperation, partnership, solidarity and prosperity, and expanding connection among the three economies towards sustainable development.

Previously, on October 17 afternoon, the joint delegation made field trips to the Vietnam-Laos-Cambodia border T-junction and the Bo Y International Border Gate in Kon Tum.

In the first nine months of 2023, two-way trade between Vietnam and Laos reached 1.19 billion USD, while Vietnam – Cambodia trade hit 6.5 billion USD, down 1.96% and 23% year-on-year, respectively.

The five Vietnamese localities in the CLV Development Triangle recorded an economic growth rate of 8.62% in 2022. Meanwhile, the localities’ GRDP per capita reached 60.6 million VND./.