Border Trade Studied And Multi-Billion Dollar Mekong Region Investments Ministers and senior government officials from the six Greater Mekong Subregion (GMS) countries met august 7,2013 to discuss multi-billion dollar projects and activities that will be pursued under the Regional Investment Framework (RIF) as the means of widening and deepening economic corridors. “The RIF aims to accelerate the transformation of traditional infrastructure corridors to economic corridors using a multi-sector approach. It places a greater emphasis on strengthening rural-urban and cross-border linkages to bring the benefits of cooperation to a wider reach of people,” said Stephen Groff, Vice President at the Asian Development Bank (ADB), which acts as the GMS Secretariat. Projects to be considered may involve energy and power market integration; environment and biodiversity; agriculture; human resource development; tourism; transport; urban development; and trade facilitation. The RIF looks to ensure investments for corridor development are demand driven; balance external and domestic connectivity and trade; carefully assess regional dimensions of national projects; and prioritise urban development projects such as special economic zones, logistics, and investments linking remote areas with trade gateways. Thailand Industry Ministry also chosen four border areas for a study on how to reduce logistics costs for the private sector ahead of the Asean Economic Community (AEC) in 2016. Mae Sot, Chiang Khong and Mukdahan in Thailand and Poipet, Cambodia, will be looked at for ways to improve logistics and packaging for business operators. Projects to be considered may involve energy and power market integration, the environment and biodiversity, agriculture, human resource development, tourism, transport, urban development and trade facilitation as well. The study will look at the value of border trade in these areas, and a test product will be selected. An evaluation will then be made on problems that particular product encounters in terms of logistics. ”The products traded are mostly consumer goods, oil, electronics, electrical appliances and auto parts,” said Anong Paijitprapapon, director of the Primary Industries and Mines Department’s Bureau of Logistics. The project is part of government plans to develop special economic zones (SEZs) in border areas. ”Developed countries don’t have SEZs. But China is a good example, and we’re looking at them as a model,” said Ms Anong. The University of the Thai Chamber of Commerce will finalise a concrete framework by next February for businesses to use as a guideline for lowering logistics costs. The Bureau of Logistics received 139 million baht this year for use in lowering logistics costs by at least 3 billion. For the next fiscal year, the bureau is expected to receive 148 million baht for 30 projects aimed at lowering logistics costs by 3.5 billion. In a related development, ministers and senior government officials from the six Greater Mekong Subregion (GMS) countries yesterday discussed multibillion-dollar projects under the Regional Investment Framework (RIF). The RIF is aimed at speeding up the transformation of traditional infrastructure corridors to economic corridors using a multisectoral approach. The RIF looks to ensure investments for corridor development are demand driven; balance external and domestic connectivity and trade; carefully assess regional dimensions of national projects; and prioritize urban development projects such as special economic zones, logistics, and investments linking remote areas with trade gateways. Some of the RIF’s proposed projects for the next five to 10 years were presented at Economic Corridors Forum to gather strategic and policy views on projects that will support a more integrated, prosperous, and equitable Mekong subregion. The final RIF pipeline is expected to be officially endorsed at the 19th GMS Ministerial Conference in Vientiane, Lao People Democratic Republic in December 2013. The Greater Mekong Subregion (GMS) is made up of Cambodia, the People’s Republic of China (PRC, specifically Yunnan Province and Guangxi Zhuang Autonomous Region), the Lao People’s Democratic Republic (Lao PDR), Myanmar, Thailand, and Viet Nam. In 1992, with assistance from the Asian Development Bank (ADB) and building on their shared histories and cultures, the six countries of the GMS launched a program of subregional economic cooperation—the GMS Program—to enhance their economic relations, covering the nine priority sectors: agriculture, energy, environment, human resource development, investment, telecommunications, tourism,transport infrastructure, and transport and trade facilitation. The GMS Program, with the support of ADB and other development partners, is helping the participating countries achieve the Millennium Development Goals through increased connectivity, improved competitiveness, and a greater sense of community (the three Cs).
Posted on: Mon, 23 Sep 2013 05:03:48 +0000
Recently Viewed Topics
© 2015