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||19 September 2009
Economic Corridor: Mekong countries to boost cooperation
The six nations of the Greater Mekong Sub-region (GMS) have approved a deal for the development of the sub-region’s economic corridors, with the aim of boosting regional economic development, reported VNBusinessNews.com.
The corridors in question are known as the East-West, North-South and the Southern corridors. The agreement was reached at the second GMS Economic Corridor Forum which was held in the Cambodian capital of Phnom Penh on September 16-17 by the Asian Development Bank (ADB), with the participation of six GMS countries namely Cambodia , China , Laos , Myanmar , Thailand and Vietnam .
Addressing the forum’s closing ceremony, ADB representative Lawrence Greenwood said the agreement would help improve and speed up trade and business among the six countries along the Mekong River.
Once operational, these corridors would increase the exchange of products and investment in the countries, generate jobs, reduce poverty and raise people’s living standards.
Initiated by the ADB, the GMS was founded in 1992 to boost economic growth and reduce poverty in the countries the Mekong, Southeast Asia's longest river, runs through.
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