Vietnam has many contributions at the 16th CLMV Economic Ministers' Meeting
Báo Tin Tức•19/09/2024
According to a VNA reporter in Laos, on the afternoon of September 18 in the capital Vientiane, the 16th Cambodia-Laos-Myanmar-Vietnam Economic Ministers' Meeting (CLMV EMM 16) took place under the chairmanship of Lao Minister of Industry and Trade Malaithong Kommasith, along with representatives of the Ministries of Industry and Trade of the four countries Cambodia-Laos-Myanmar-Vietnam.
View of the 16th CLMV EMM Conference. Photo: Xuan Tu/VNA At the Conference, the Lao Minister of Industry and Trade said that in 2024, Laos is honored and proud to be the ASEAN Chair with the slogan "ASEAN: Strengthening connectivity and self-reliance". This is both a time and an opportunity and a challenge in many aspects, especially in the context of complicated developments in the world and the region, requiring CLMV countries to strengthen solidarity and close cooperation to address these challenges. The 16th CLMV EMM Conference demonstrated the commitment to continue cooperating to implement the vision of the CLMV countries, with the goal of turning this region into a high-income region and the economic center of ASEAN by 2045. The regional and international situation continues to face many challenges, but the CLMV countries continue to maintain economic growth, showing that the value of trade in goods of the LCMV countries in 2023 reached 767.7 billion USD, accounting for 21.6% of the total ASEAN trade value; the value of foreign direct investment in the CLMV countries increased by 5.4%, from 25.1 billion USD in 2022 to 26.4 billion USD in 2023. At the Conference, delegates studied and discussed many outstanding issues, reviewed and approved the report of the CLMV Senior Economic Officials Meeting; At the same time, they exchanged ideas and provided guidance on implementing work plans to develop the country. Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan attended the conference. Photo: Xuan Tu/VNA Speaking at the Conference, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan acknowledged and highly appreciated the efforts of CLMV countries in promoting economic, trade and investment activities over the past year, since the 15th CLMV Economic Ministers' Meeting took place in September 2023, in the context of the regional and world economies continuing to face many difficulties and challenges. To maintain the momentum of trade and investment growth, in the coming time, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan hopes that CLMV countries will continue to coordinate and support each other in effectively implementing Free Trade Agreements (FTAs) of which the four countries are members; continue to improve the investment and business environment; develop transport infrastructure, energy, telecommunications infrastructure, digitalization; develop human resources, strengthen measures to support businesses, and further consolidate the position of each country in regional supply chains.
To promote trade exchange between CLMV countries, the Vietnamese Deputy Minister of Industry and Trade proposed that the countries strengthen cooperation to remove obstacles and trade barriers, if any, to facilitate trade, especially e-commerce. Vietnam requested that CLM countries continue to facilitate and remove difficulties for Vietnamese investors to implement investment and business projects in Cambodia, Laos and Myanmar. Regarding the CLMV Action Plan 2023-2024, the Vietnamese Deputy Minister of Industry and Trade highly appreciated the CLMV countries for being proactive, flexible and having high consensus and unanimity in coordinating and implementing activities and projects. In addition, the Vietnamese Deputy Minister of Industry and Trade also recommended that Laos, as the 2024 ASEAN Chair, strengthen its coordinating role with the ASEAN Secretariat to promote the adoption of the CLMV SEOM TOR this year; and we hope that if all goes well, the approval of the Terms of Reference (TOR) will be completed before the 11th CLMV Summit scheduled to take place in late 2024.
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