Issue 53

Government officials and representatives from the private sector joined in June to discuss building networks and promoting investment for the CLMVT.

Situated between the largest economies in the world – India and China – and boasting an average 5.8% GDP growth from 2011 to 2014 despite the worldwide economic slowdown, the CLMVT countries (Cambodia, Laos, Vietnam, Myanmar and Thailand) are determined to join forces in order to facilitate trade and investment in the region.

The first CLMVT Forum 2016, gathered 15 ministers from the ASEAN countries responsible for economics, trade, industry, investment and tourism. Keynote speeches and roundtable discussions considered a range of issues, from financial integration and harmonising standards and procedures, to promoting start-up businesses.

Thailand’s Prime Minister General Prayut Chan-o-cha presided the opening ceremony on June 16 and delivered a keynote address entitled CLMVT: Prosper Together, in which he referred to the region’s great potential and opportunities to develop trade, investment and tourism.

“The CLMVT region is set to play a unique role as a vital destination for international investment, tourism and industry,” he said. “The CLMVT countries are looking forward to enhanced economic integration and connectivity that will engender a sustainable and shared prosperity in the region that leaves no one behind.

“The private sector plays a vital role in the growth of the region. Moreover, government-issued agreements are now in place to facilitate the expansion of businesses such as the Ayeyawadi-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS), the Greater Mekong Sub-region Economic Cooperation Programme (GMS) and the Bay of Bengal Initiative for Multi-Sectoral, Technical and Economic Cooperation (BIMSTEC). I hope to see the Thai government and officials from CLMV countries take this opportunity to increase cooperation for both the private and public sector.”

The forum was organised by the Ministry of Commerce, in collaboration with the ministries of Foreign Affairs, Tourism and Sports, Culture, and Industry, as well as various other government agencies.

“The main objective of this forum is to bring about the region’s common goal of shared prosperity, accentuate its potential, correct weaknesses, unlock … obstacles, create a borderless economic community … so that CLMVT would become Asia’s New Growth Engine,” Commerce Minister Apiradi Tantraporn said.

“Thailand aims to increase trade with CLMV countries by 16% compared to last year’s growth of 13%,” Tantraporn added. “Also, we target exports to grow by 13% from US$22 billion in 2015. Currently, exports from Thailand to CLMV account for 10.4% of all products and services in the country.”

Policy makers, entrepreneurs, business leaders and academics from the five nations and beyond engaged in talks and discussions on connectivity, such as promoting business and investment, creating a “single, seamless region”, and supporting the digital infrastructure including e-transactions and e-tourism.
The CLMVT Forum 2016 was held from June 16 to 18 at Dusit Thani Hotel, Bangkok.

Information and photographs courtesy of the DITP
Words by Pimsirinuch Borsub