Prime Minister Nguyen Xuan Phuc’s attendance at these summits demonstrates that Vietnam attaches importance to ACMECS, CLMV and CLV cooperative mechanisms, strengthening the linkage between the regional countries and creating a favourable environment for sustainable development in each country towards common prosperity and sustainable development across the whole region.
Established in November 2003, ACMECS is an economic cooperation mechanism comprised of five countries: Cambodia, Laos, Myanmar, Thailand and Vietnam, its aim being to increase general and bilateral economic cooperation in order to tap into the comparative advantages between regions, member countries, enhancing competitiveness and narrowing the development gap.
To date, six countries have become official development partners of ACMECS, including the United States, China, Japan, the Republic of Korea, Australia and India.
ACMECS covers cooperation in trade and investment, agriculture, industry and energy, transport, tourism, human resource development, healthcare and the environment.
It aims to be a region connecting the Indian and Pacific Oceans through reinforcing and building new transport systems, including economic corridors, sea ports, railways, roads, sea routes, aviation; developing a regional energy market through building power transmission networks as well as oil and gas pipelines.
ACMECS countries will increase their cooperation in trade and investment through harmonising and simplifying clearance procedures, reducing non-tariff barriers, and unifying value and supply chains. On smart and sustainable economic development, ACMECS promotes human resources development cooperation in agriculture, tourism, healthcare, education and the environment.
To implement the ACMECS Master Plan, its member countries are expected to adopt 30 priority projects based on the three development pillars of the Plan at this 9th Summit.
The formation of CLMV is an effort to meet the requirements of integration in the Mekong Sub-region and across ASEAN. CLMV cooperation originates from the idea of narrowing the development gap to promote the integration of CLMV countries into the common regional process.
CLMV cooperation is an open cooperation mechanism, by both promoting the existing cooperation potential of CLMV countries and calling for the assistance of other ASEAN countries and development partners with the CLMV countries.
CLMV is also a forum for its member countries to coordinate their stances, helping protect the interests of CLMV countries in the ASEAN economic linking process as well as between ASEAN and other partners such as China, Japan and the Republic of Korea.
CLMV countries focus their cooperation on trade and investment, human resource development, agriculture, industry, energy, information technology, transport and tourism.
At the 9th CLMV Summit in 2018, the leaders of its member countries agreed on prioritising measures to help narrow the development gap within ASEAN, especially developing human resources and high-quality agriculture, promoting tourism and creating a conducive business environment.
The Cambodia-Laos-Vietnam Development Triangle Area cooperation mechanism was established in 1999 with the goal of enhancing solidarity and cooperation between the three countries, helping ensure security and political stability, reduce poverty and promote socio-economic development in the region.
CLV cooperation focuses on security-diplomacy, transport, industry, agriculture, trade, investment, social affairs and environmental protection.
After 20 years, the CLV cooperation mechanism has maintained its role as a mechanism connecting the three countries, maintaining a peaceful and stable environment across 13 border provinces, and helping promote substantive economic cooperation, contributing to shifting the economic structure in a positive direction in border provinces.
At the 10th CLV Summit in 2018, the leaders adopted an action plan to connect the three economies until 2030, aiming to make CLV become a growth pole within ASEAN.
As an active and responsible member of ACMECS, CLMV and CLV, Vietnam has always proactively put forward initiatives and contributed resources in order to strengthen connectivity and cooperation between the countries.
Vietnam’s participation has brought about many positive results in terms of economic development and poverty reduction as well as helping increase regional economic activity and build CLMV economies reflecting integration, sustainability and prosperity.
Aware of the importance of using the Mekong River resources sustainably, Vietnam has actively promoted cooperation on the environment and water resources management as well as promoting the establishment of a working group on the environment within the ACMECS framework.
Prime Minister Nguyen Xuan Phuc’s attendance at the ACMECS, CLMV and CLV Summits affirms that Vietnam attaches significant importance to regional cooperation mechanisms; enhancing the position and role of Vietnam in ACMECS, CLMV and CLV; further promoting cooperation between the countries; affirming Vietnam’s commitment to constantly making its contribution in order to build a region of peace, sustainable and comprehensive development.
