While large emerging Asian countries jostled for greater say at the G20 summit last weekend, Prime ministers from Thailand, Cambodia, Laos, Myanmar and Vietnam, met to discuss food and energy security and strengthening transport, trade and investment ties amongst themselves. The group, named after the region’s three major rivers met in Vietnam and forms the Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) forum. Smaller Asian nations have realized that their growth lies in regional cooperation, a reason why Laos, Cambodia, Vietnam and Myanmar are trying to attract investments from neighboring countries Thailand, China and India.

In strengthening regional ties, Cambodia and Vietnam recently agreed to connect Phnom Penh to Vietnam by rail at a cost of more than US$500 million. “China has promised to build the railroad from Phnom Penh to Vietnam as part of the project to create a link from Singapore to Kunming in China,” Hor Namhong told the AFP on his return from regional meetings in Hanoi, Vietnam. Thailand on its part is also investing in rail, road links and bridges to Laos a landlocked country. The group also talked of industrial and energy cooperation particularly hydro-power and oil and gas exploration.

In order to boost infrastructure leading to growth, the Asian Development Bank has already invested billions in the region to build a network of transnational highways and Mekong river bridges, turning former conflict zones and backwaters into economic corridors.

Except for middle-income country Thailand, the Mekong nations remain among Asia’s poorest and hope to build prosperity through closer regional transport and commercial links, both with each other and with China, the Associated Press said.

The ACMECS group looks to boost ties in seven areas — telecommunication, tourism, trade and investment, agriculture, industry and energy, human resource development and public health development.

This entry was posted on Wednesday, November 19th, 2008 at 4:02 pm and is filed under Regional Organisations, Trade, Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.