KUALA LUMPUR, Aug 17 (Bernama) -- Japan has proposed two new projects for the CLMV countries (Cambodia, Laos, Myanmar and Vietnam) to assist them in their economic development.
"The projects are to develop a special economic zone and the natural rubber industry in those countries," said Bui Huy Son, the deputy director general of the Multilateral Trade Policy Department of Vietnam.
The proposal was made during the consultation between CLMV Senior Economic Officials and Japan's Ministry of Economy, Trade and Industry (METI) in the run up to the 38th Asean Economic Ministers meeting that begins on Aug 21.
On the special economic zone, Bui who chaired the meeting said Japan would conduct a study and recommend the best practices that the countries could apply to develop the economic zone.
At 37th AEM held in Vientiane, Laos, last year, Japan proposed a list of new projects for the CLMV countries. This was to promote trade and investment that in turn will provide higher and stable economic growth.
Japan was the first to offer assistance to CLMV countries as a group, whereas past assistance to these countries were given individually by other Asean countries.
Asked whether it was possible for CLMV to forge a Free Trade Agreement (FTA) with Japan, Bui replied, "we are not that creative."
At last year's AEM, Asean secretary-general Ong Keng Yong said Japan was interested in the CLMV-Japan FTA, however it did not express its interest on doing bilateral trade with each CLMV country.
"The projects are to develop a special economic zone and the natural rubber industry in those countries," said Bui Huy Son, the deputy director general of the Multilateral Trade Policy Department of Vietnam.
The proposal was made during the consultation between CLMV Senior Economic Officials and Japan's Ministry of Economy, Trade and Industry (METI) in the run up to the 38th Asean Economic Ministers meeting that begins on Aug 21.
On the special economic zone, Bui who chaired the meeting said Japan would conduct a study and recommend the best practices that the countries could apply to develop the economic zone.
At 37th AEM held in Vientiane, Laos, last year, Japan proposed a list of new projects for the CLMV countries. This was to promote trade and investment that in turn will provide higher and stable economic growth.
Japan was the first to offer assistance to CLMV countries as a group, whereas past assistance to these countries were given individually by other Asean countries.
Asked whether it was possible for CLMV to forge a Free Trade Agreement (FTA) with Japan, Bui replied, "we are not that creative."
At last year's AEM, Asean secretary-general Ong Keng Yong said Japan was interested in the CLMV-Japan FTA, however it did not express its interest on doing bilateral trade with each CLMV country.
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