Prime Minister Nguyen Xuan Phuc at the event (Source: VNA) Bangkok (VNA) – Prime Minister Nguyen Xuan Phuc suggesteda number of measures to make ACMECS cooperation more effective at the 8th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy Summit (ACMECS 8)that opened in Bangkok, Thailand on June 16.
He said it is necessary to push for coordination of stancebetween ACMECS members and development partners, and build a common voice onissues needed to be addressed and cooperation priorities.
Greater attention should be paid to the mobilisation offinancial sources via initiatives like the ACMECS Fund and ACMECSInfrastructure Fund and Trust, the Vietnamese PM noted.
He said ACMECS operation mechanism should be improved to beleaner and more effective, suggesting the organization of ACMECS meetings inconjunction with events held by the ASEAN and other Mekong cooperationmechanisms.
The PM added that ACMECS needs to contribute more directlyto and become an integral part of the ASEAN Community formation process throughintegrating the implementation of the ACMECS Master Plan with that of the ASEANCommunity Vision 2025, the Master Plan on ASEAN Connectivity, and other ASEANcooperation programmes.
The Vietnamese PM also recommended a number of specificcontents 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 State andgovernments leaders of Cambodia, Laos, Myanmar and Thailand.
Themed “Towards an Integratedand Connected ACMECS Community”, ACMECS 8 focused its discussions on measuresto facilitate socio-economic development, improve competitiveness of membereconomies, and outlined orientations for cooperation for inclusive andsustainable development in the Mekong region.
Leaders shared the view thatthe Mekong region boasts a wide market, capable human resources, and astrategic geo-economic location connecting Indian Ocean, the Pacific and Asianmarkets.
However, regional countrieshave to face challenges from the slow recovery of the world economy, theemergence of populism, the return of protectionism, non-traditional securityissues such as environment degradation, climate change and natural disasters,requiring ACMECS to further improve the efficiency of its cooperation andenhance coordination between ACMECS and other region and sub-regionalmechanisms.
Participants adopted theBangkok Declaration and the ACMECS Master Plan for the 2019-2023 period withthe goal of turning ACMECS into an economic hub with seamless connectivity and strongintegration, on the three main pillars of hard infrastructure and softinfrastructure connectivity and smart and sustainable development.
Accordingly, ACMECS willpromote seamless connectivity from multi-modal transports links (roads, rails,bridges, ports, air, inland waterway, and maritime connectivity) including butnot limited to infrastructures designed for sub-regional digital connectivityand energy infrastructure interconnection. Special emphasis will be on fillingall the missing links in the sub-region, and the auxiliary connection lineslinking industrial parks and seaports to main corridor routes; completing themissing railway links to enhance operations of sub-regional railway network,particularly the East-West Economic Corridor (EWEC) and Southern EconomicCorridor (SEC).
It will also harmonise andsimplify rules and regulations to facilitate the movement of people, free flowof goods, services, and investment while promoting financial literacy, capitalmarket cooperation as well as financial connectivity such as payment and settlement,use of local currency, fintech and cooperation between banks and otherfinancial service providers.
For smart and sustainable development, ACMECS will promotethe development of human capital in strategic areas including entrepreneurship(MSMEs/Startups), agriculture, tourism, medical services and education. Environmentalcooperation will continue to be promoted, particularly insustainable water resource management and in other strategic fields, includingagriculture, industry, tourism, health, renewable energy, climate change,disaster-risk management, and natural resources conservation.
The summit also discussed Thailand’s initiative onestablishing the ACMECS Fund and ACMECS Infrastructure Fund and Trust as afinancing mechanism for cooperation projects in the region. The funds are saidto support the implementation of proritised projects in ACMECS membercountries.
The summit highlighted the role of businesses in and outsideof the region, with the ACMECS CEO Forum and a dialogue between ACMECS countryleaders and CEOs of leading companies in the region taking place for the firsttime. This showed that the private sector is set to be an important partner ofthe ACMECS in the future.
ACMECS leaders also welcomed Vietnam’s hosting of the WorldEconomic Forum on ASEAN in Hanoi on September 11 – 13 this year. They said itwould be an opportunity to highlight the Mekong region as an ASEAN’s newdynamic economic engine and promote entrepreneurship in ACMECS countries.
They agreed that Cambodia will host the 9th ACMECS Summit in2020.-VNA
He said it is necessary to push for coordination of stancebetween ACMECS members and development partners, and build a common voice onissues needed to be addressed and cooperation priorities.
Greater attention should be paid to the mobilisation offinancial sources via initiatives like the ACMECS Fund and ACMECSInfrastructure Fund and Trust, the Vietnamese PM noted.
He said ACMECS operation mechanism should be improved to beleaner and more effective, suggesting the organization of ACMECS meetings inconjunction with events held by the ASEAN and other Mekong cooperationmechanisms.
The PM added that ACMECS needs to contribute more directlyto and become an integral part of the ASEAN Community formation process throughintegrating the implementation of the ACMECS Master Plan with that of the ASEANCommunity Vision 2025, the Master Plan on ASEAN Connectivity, and other ASEANcooperation programmes.
The Vietnamese PM also recommended a number of specificcontents 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 State andgovernments leaders of Cambodia, Laos, Myanmar and Thailand.
Themed “Towards an Integratedand Connected ACMECS Community”, ACMECS 8 focused its discussions on measuresto facilitate socio-economic development, improve competitiveness of membereconomies, and outlined orientations for cooperation for inclusive andsustainable development in the Mekong region.
Leaders shared the view thatthe Mekong region boasts a wide market, capable human resources, and astrategic geo-economic location connecting Indian Ocean, the Pacific and Asianmarkets.
However, regional countrieshave to face challenges from the slow recovery of the world economy, theemergence of populism, the return of protectionism, non-traditional securityissues such as environment degradation, climate change and natural disasters,requiring ACMECS to further improve the efficiency of its cooperation andenhance coordination between ACMECS and other region and sub-regionalmechanisms.
Participants adopted theBangkok Declaration and the ACMECS Master Plan for the 2019-2023 period withthe goal of turning ACMECS into an economic hub with seamless connectivity and strongintegration, on the three main pillars of hard infrastructure and softinfrastructure connectivity and smart and sustainable development.
Accordingly, ACMECS willpromote seamless connectivity from multi-modal transports links (roads, rails,bridges, ports, air, inland waterway, and maritime connectivity) including butnot limited to infrastructures designed for sub-regional digital connectivityand energy infrastructure interconnection. Special emphasis will be on fillingall the missing links in the sub-region, and the auxiliary connection lineslinking industrial parks and seaports to main corridor routes; completing themissing railway links to enhance operations of sub-regional railway network,particularly the East-West Economic Corridor (EWEC) and Southern EconomicCorridor (SEC).
It will also harmonise andsimplify rules and regulations to facilitate the movement of people, free flowof goods, services, and investment while promoting financial literacy, capitalmarket cooperation as well as financial connectivity such as payment and settlement,use of local currency, fintech and cooperation between banks and otherfinancial service providers.
For smart and sustainable development, ACMECS will promotethe development of human capital in strategic areas including entrepreneurship(MSMEs/Startups), agriculture, tourism, medical services and education. Environmentalcooperation will continue to be promoted, particularly insustainable water resource management and in other strategic fields, includingagriculture, industry, tourism, health, renewable energy, climate change,disaster-risk management, and natural resources conservation.
The summit also discussed Thailand’s initiative onestablishing the ACMECS Fund and ACMECS Infrastructure Fund and Trust as afinancing mechanism for cooperation projects in the region. The funds are saidto support the implementation of proritised projects in ACMECS membercountries.
The summit highlighted the role of businesses in and outsideof the region, with the ACMECS CEO Forum and a dialogue between ACMECS countryleaders and CEOs of leading companies in the region taking place for the firsttime. This showed that the private sector is set to be an important partner ofthe ACMECS in the future.
ACMECS leaders also welcomed Vietnam’s hosting of the WorldEconomic Forum on ASEAN in Hanoi on September 11 – 13 this year. They said itwould be an opportunity to highlight the Mekong region as an ASEAN’s newdynamic economic engine and promote entrepreneurship in ACMECS countries.
They agreed that Cambodia will host the 9th ACMECS Summit in2020.-VNA
VNA
