Third GMS Summit opens to chart future course for region

March 31, 2008

The third summit meeting of the Greater Mekong Subregion (GMS) opened here on Monday during which the prime ministers will discuss ways to deepen economic cooperation for their countries' shared prosperity.

The theme of the Third GMS Summit is "Enhancing Competitiveness through Greater Connectivity".

Leaders of the six countries sharing the Mekong River -- Cambodia, the People's Republic of China, Lao People's Democratic Republic, Myanmar, Thailand, and Vietnam will discuss coordinated actions to reduce poverty and promote sustainable development in the region through expanded transportation and telecommunication linkages, streamlined trade agreements, and greater environmental management efforts.

In his opening speech, Lao Prime Minister Bouasone Bouphavanh asked the GMS leaders to consider the endorsement of the GMS Plan of Action for the period 2008-2012.

The leaders are being joined by Asian Development Bank (ADB) President Haruhiko Kuroda. ADB has been the lead supporter of the Greater Mekong Subregion Economic Cooperation Program since 1992.

The First GMS Summit was held in Phnom Penh, Cambodia in November 2002, while the Second GMS Summit was held in Kunming, China in July 2005.

Source: Xinhua

PMs from Mekong countries in informal sessions to chart region's future course

VIENTIANE, March 30 (Xinhua) -- Prime ministers of the six countries sharing the Mekong River are engaged in bilateral meetings and informal sessions here on Sunday, one day ahead of the Third Greater Mekong Subregion (GMS) Summit.

The Third Greater Mekong Subregion (GMS) Summit, to open in Vientiane, capital of Lao People's Democratic Republic on Monday, has as its theme "Enhancing Competitiveness Through Greater Connectivity."

The prime ministers of the Laos, China, Vietnam, Myanmar, Cambodia and Thailand will discuss coordinated actions to reduce poverty and promote sustainable development in the region through expanded transportation and telecommunication linkages, streamlined trade agreements, and greater environmental management efforts.

The leaders are being joined by Asian Development Bank (ADB) President Haruhiko Kuroda. ADB has been the lead supporter of the Greater Mekong Subregion Economic Cooperation Program since 1992.

Since its inception in 1992, the GMS has developed into one of the fastest growing regions of the world, with an average gross domestic product of over 6 percent in recent years.

Exports from GMS countries, excluding China, have quadrupled from 37 billion U.S. dollars in 1992 to 179 billion U.S. dollars in 2006, and foreign direct investment in the GMS has more than tripled from 2 billion U.S. dollars in 1992 to 7 billion U.S. dollars in 2005.

Annual tourist arrivals have also risen dramatically, from 10 million in 1995 to over 22 million in 2006.

Over the past 15 years, approximately 10 billion U.S. dollars in investments have been made in 34 regional development projects. ADB has contributed over one-third of the overall amount.

The GMS program focuses on nine development areas: agriculture, energy, the environment, human resource development, private investment, telecommunications, tourism, trade and transportation.

The GMS nations are expected to endorse on Monday a five-year action plan (2008-2012) to foster economic growth and prosperity in the region.