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The 8th CLMV Summit - Seizing Opportunities, Shaping the Future
21/11/2016 17:51' Send Print
Prime Minister Nguyen Xuan Phuc chaired the Summits. Photo: VNA

Vietnamese Prime Minister Nguyen Xuan Phuc chaired the summits.

Attending CLMV 8 and ACMECS 7 were Myanmar President Htin Kyaw, Lao Prime Minister Thongloun Sisoulith, Cambodian Prime Minister Samdech Hun Sen, Thai Deputy Prime Minister Somkid Jatusripitak, Secretary General of the Association of Southeast Asian Nations (ASEAN) Le Luong Minh, Deputy Secretary General of the United Nations- Executive Secretary of the Economic and Social Commission for Asia and the Pacific (ESCAP) Shamshad Akhtar, representatives of the Asia Development Bank (ADB), the World Bank (WB) and many development partners in the region and the world.

Towards regional connectivity

The 8th CLMV Summit was held under the theme “Seizing Opportunities, Shaping the Future.” During discussion at the summit, leaders shared assessment on new development environemnt in the Mekong region, confirming that the CLMV countries are facing great opportunities for economic development. These opportunities come from the revolution of science and technology in the world, the economic integration of the region, especially the formation of the ASEAN Economic Community.

The CLMV countries also have important competitive advantages such as strategic economic location near major markets, abundant natural resources, a large and young workforce, competitive prices, favorable trade and investment policies.

Besides, the leaders maintained that the Mekong region is faced with many challenges such as resource constraints, poor infrastructure, negative impacts of climate change, instability of the regional and global economy and vulnerability of small and open economies.

To maintain growth momentum and improve competitiveness, the leaders agreed to carry out economic reforms in each country, maintain macroeconomic stability and create a favorable business environment while proactively integrate deeper into the regional and global economy.

The leaders also agreed to implement specific measures to strengthen connectivity of the four countries’ economies and markets toward regional connectivity. At the end to the Summit, the leaders adopted a Joint Declaration of the 8th CLMV Summit. It was agreed that Cambodia will host the 9th CLMV Summit in 2018.

Making the Mekong region a dynamic and sustainable economic and development hub

The 7th ACMECS Summit was held under the theme “Towards a Dynamic and Prosperous Mekong Subregion.” At the summit, the leaders discussed ACMECS measures to promote socio-economic development, increase competitiveness of member economies, enhance regional economic integration and set out cooperation orientations for sustainable development in the Mekong region.

Noting that achievements of ACMECS cooperation in recent years, particularly in the areas of transport connectivity have facilitated trade, investment, tourism development and environmental protection, ACMECS leaders also maintained that the Mekong region is facing many difficulties and challenges in ensuring financial source for development projects, response to climate change, natural disasters and environmental protection.

The leaders adopted the Hanoi Declaration of ACMECS 7 with the goal of turning the Mekong region into a dynamic and sustainable economic hub. Accordingly, in the future, ACMECS countries will concentrate on promoting cooperation in transport, trade, investment, tourism, agriculture, and environment.

The Summit agreed to hold the ACMECS 8 in Thailand in 2018.

At the initiative of Vietnam, for the first time in the framework of the ACMECS and CLMV Summits, the World Economic Forum on the Mekong region was organized with the participation of many important development partners.

These initiatives help to promote connectivity among businesses in the Mekong region and with large corporations in the world, strengthen dialogues between the business sector with policy makers, increase participation of development partners in cooperation programs of CLMV and ACMECS. Vietnam's initiatives have been highly appreciated and supported by member countries.

** On the same day, Prime Minister Nguyen Xuan Phuc chaired the International Press Conference on the results of ACMECS, CLMV, and WEF-Mekong at the National Convention Centre, Hanoi. Chairing the press conference for the first time in his capacity as Prime Minister, Mr. Nguyen Xuan Phuc expressed his pleasure to meet with the press and hope that the media continues to contribute to the development of the country and enhance Vietnam's position.

The Prime Minister said that Vietnam hosted the “3 in 1” conferences in (ACMECS 7, CLMV 8 and WEF-Mekong). The WEF-Mekong Conference is an initiative of Vietnam which is supported by WEF and the Mekong countries. This is the first time WEF held a separate meeting on the Mekong region. “The three Summits are very successful,” the Prime Minister noted, saying that the success is reflected in a number of ways.

Never has such Summits with high number of participants of relating countries. Especially this time Vietnam invited development partners such as the World Bank (WB), the United Nations, the Asian Development Bank (ADB) to attend the whole events. In addition, there were also large corporations of WEF and other countries in the region, including Vietnamese businesses. Ambassadors and diplomatic representatives in Hanoi also joined the ACMECS and CLMV.

These summits set out new and stronger guidelines and measures such as green growth, inclusive growth, striving to build people-oriented society, and respond more timely to climate change in the region.

Participating countries saw the need to strengthen intra-relationships while developing strong relationships with the developed world from the first group of countries of ASEAN, the EU, China and other countries, to the development partners such as the World Bank and the Asian Development Bank.

Communist Review