Government officials, development partners and representatives of the private sector from the six GMS countries joined the forum to review its achievements over the last six years and take stock of cross-border transport and trade initiatives in the region.
Bindu Lohani, Vice President at the Asian Development Bank told participants that most of the infrastructure links required for enhanced connectivity has been put in place but the crucial question now is how to ensure that they will yield their intended benefits in terms of increased trade flows, investment activity, industrial growth, employment and incomes.
The ECF needs to go back to its original focus of finding ways to boost trade and investment and hasten the development of industries along the economic corridors, participants heard. Among the key ways to achieve this are through transport and trade facilitation, and the development of special economic zones such as cross border economic zones, export processing zones and industrial parks.
The forum also discussed ways to improve co-ordination and integration in carrying out the proposed measures by sharing experience within and outside the region and promoting involvement of the private sector, among others.
The GMS countries formed the ECF in 2008 to bolster efforts in transforming GMS transport corridors into economic corridors - connecting dynamic hubs of economic activity.
It serves as a single body focusing on economic corridor development and helps improve interaction between the public and private sectors, and between central and local governments.
