MOIT VIETNAM | Viet Nam, Laos, And Cambodia Fortify Their Economic Ties In The Face Of Increasing Global Uncertainty.
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Viet Nam, Laos, And Cambodia Fortify Their Economic Ties In The Face Of Increasing Global Uncertainty.
Vietnam, Laos, and Cambodia's prime ministers have reached a historic agreement to increase cooperation, marking a major step toward greater economic independence and global economic integration. With the help of this agreement, the two countries hope to make it easier for companies to invest and trade with one another. The tripartite meeting, which took place in Vientiane, Laos, on April 5, 2023, emphasized the significance of regional solidarity in light of uncertain global economic changes and laid the groundwork for the fourth Mekong River Commission Summit.
Prime Ministers Hun Sen of Cambodia, Sonexay Siphandone of Laos, and Pham Minh Chinh of Vietnam met in a cordial setting to discuss recent social and economic trends in their countries. They reminisced about their work together and voiced their shared concern for pressing regional and global issues. The leaders underlined the significance of frequent high-level meetings, which have traditionally encouraged cooperation and unity among the three countries.
While Lao and Cambodians were celebrating their traditional New Year, Prime Minister Chinh used the opportunity to send New Year greetings from top Vietnamese officials, including General Secretary Nguyen Phu Trong, President Vo Van Thuong, and National Assembly Chairman Vuong Dinh Hue, to his Lao and Cambodian counterparts.
Encourage border trade through customs systems; share best practices in developing and managing legal frameworks; and make effective use of Official Development Assistance (ODA). These were the three points on which the three prime ministers reached an agreement. In order to improve collaboration and knowledge sharing, they acknowledged the importance of digital transformation and information technology.
Vietnamese and Laotian officials have voiced their support for Cambodia's bid to host the 32nd Southeast Asian Games and the seventh parliamentary elections in 2022, following the country's successful chairing of ASEAN and AIPA. Supporting each other in regional and international forums, the leaders reaffirmed their commitment, adding to ASEAN's centrality and solidarity.
With an eye toward the future, the prime ministers emphasized the significance of sub-regional cooperation in achieving sustainable development and narrowing development gaps. Among them were the 12th CLV Development Triangle Area Summit in Cambodia and the first-ever Tripartite National Assembly Summit in Laos, both of which are scheduled for 2023.
In a move that exemplifies the cooperative nature of their relationship, Vietnam and Cambodia have promised their complete backing to Laos as it gets ready to become the ASEAN Chairmanship in 2024.
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