This report compares the Regional Comprehensive Economic Partnership (RCEP) with other free trade agreements and suggests how policy makers can promote its successful implementation.
Workers take a ride on a truck after their shift at a factory in Cambodia. Photo by ADB.
The Asian Development Bank (ADB) has approved an $82 million loan to improve about 48 kilometers of national and provincial roads in Prey Veng and Kandal to boost economic development along the Greater Mekong Subregion (GMS) Southern Economic Corridor.
Thailand’s Ministry of Commerce’s Trade Policy and Strategy Office (TPSO) organized the CLMVT+ Forum 2021 on 24-26 August. The forum highlighted the TPSO study emphasizing the importance of achieving an even economic recovery in the GMS.
Trade promotion agencies of Cambodia, India, Thailand, and Viet Nam held an event promoting cross-border trade connectivity between India and countries in the Greater Mekong Subregion (GMS) on 19 August. Representatives from each country gave briefings on their business environment and exchanged experiences in facilitating trade and investment cooperation. Noting challenges caused by COVID-19, they urged governments to take measures to help their small and medium-sized enterprises (SMEs) move beyond national borders and expand markets.
Meeting photo via Viet Nam Plus
The second Mekong-U.S. Partnership Ministerial Meeting held on 2 August 2021 unveiled four flagship projects under the Mekong-U.S. Partnership, and noted the 8.5 million vaccine doses and over $58 million in U.S. COVID-19 assistance to the Mekong subregion countries.
On the road from Ho Chi Minh, Viet Nam to Phnom Penh, Cambodia. Photo by Clay Gilliland/ Flickr (CC BY-SA 2.0)
A $97.9 million upgrade for Viet Nam’s National Highway 62 has been proposed to Viet Nam's Ministry of Transport. The renovation work will include road repairs and road widening of specific portions from nine to eleven meters to reduce the travel time from Ho Chi Minh City, Viet Nam, to Cambodia. The project is proposed to start in 2021 with scheduled completion by 2023.
The highway connects Vietnam’s highways No.1, N2 and the HCMC-Trung Luong-My Thuan Expressway. All three are major routes run from HCMC on through the Mekong Delta.
Cambodia Prime Minister Hun Sen, Lao PDR Prime Minister Thongloun Sisoulith, and Viet Nam Prime Minister Nguyen Xuan Phuc held a virtual discussion on 10 March 2021. They lauded their growing relationship and agreed to further strengthen their cooperation in the fight against COVID-19 and in other sectors, including connectivity, energy, and trade and investment.
Lao PDR expressed appreciation for Cambodia’s medical supply donation to help them combat COVID-19.
This publication provides an analysis of key challenges and opportunities for the Greater Mekong Subregion (GMS) to realize its development goals by 2030 and beyond.
The Joint Declaration adopted at the 11th CLV Summit provides a foundation for the socio-economic development plan until 2030. Photo by VNA.
Cambodia, Lao PDR, and Viet Nam (CLV) Leaders expressed their firm commitment to strengthen the CLV Development Triangle Area (DTA) in order to accelerate economic growth, alleviate poverty, and promote socio-cultural progress in the subregion. At the 11th CLV Summit held online on 9 December, they adopted a Joint Declaration that provides a foundation for the subregion’s socio-economic development plan until 2030 and the Tourism Development Plan. They also adopted the Development Plan for Sustainable Rubber Industry.
The 10th CLMV Summit emphasized enhancing effective connectivity for regional integration. Photo by VNA.
The 10th Cambodia, Lao PDR, Myanmar, Vietnam (CLMV) Summit, held on 9 December, emphasized enhancing effective connectivity for regional integration.
Greater Mekong Subregion Secretariat
Regional Cooperation and Operations Coordination Division,
Southeast Asia Department, Asian Development Bank
Address: 6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines
Telephone: +63 2 8632 4444 Fax: +63 2 8636 2226
