GMS ministers fully support 3rd decade economic co-op strategic framework

PHNOM PENH, Aug. 4 (Xinhua) -- The Ministers of the six Greater Mekong Sub-region (GMS) countries on Thursday fully supported the new GMS Strategic Framework for 2012-2022 and will submit it to their leaders for endorsement in December this year at the 4th GMS Summit in Myanmar, according to a joint ministerial statement.
   The statement released after the 17th GMS Ministerial Conference said that the new GMS strategic framework, oriented towards the development of GMS economic corridors, includes multi-sector infrastructure investments related to urban and rural area development, as well as greater focus on the software needed for more effective and efficient use of existing and future infrastructure and for addressing shared social and environmental concerns.
   Under the new framework, Asian Development Bank will assist the GMS countries in their efforts to maximize the impact of limited regional resources by focusing on catalyzing investment in strategic areas.
   “Our experience in economic corridor development points to the need to further broaden and deepen our interventions, not only in terms of geographical reach, but also in terms of moving into the third decade of activities,” Bindu Lohani, ADB Vice-President-in-Charge of Operations 2, said in a press briefing after the conclusion of the conference.
   He added that ADB has provided support to the GMS Program for almost two decades and it would remain committed to assist the GMS countries to tap more fully into the opportunities that regional cooperation provides.
   Meanwhile, Cambodian Minister of Commerce Cham Prasidh highlighted the role of China in contributing to the development of upcoming GMS Strategic Framework for 2012-2022.
   “For the development of GMS countries, China plays very important role as both development partner and money lender,” he said during the press briefing.
   By the end of June 2011, the ADB had extended loans and grants totaling almost 5 billion U.S. dollars for 55 projects in the subregion, mainly infrastructure investments.
   The GMS countries consist of China, Myanmar, Thailand, Laos, Cambodia and Vietnam.