Lao route added to regional economic corridor
Lao route added to regional economic corridor
Road No. 12 in central Laos has been added to the East-West Economic Corridor (EWEC) following an agreement aimed at promoting development cooperation and integration in four Southeast Asian countries.
The East-West Economic Corridor is an economic development programme set up to spur the development and integration of Myanmar, Thailand, Laos and Vietnam.
The agreement on the inclusion of the Lao route came at the 3rd Vice Foreign Ministers' Meeting on the EWEC held in Bangkok, Thailand, recently.
Deputy Minister of Foreign Affairs Mr Saleumxay Kommasith attended the meeting along with his counterparts from Thailand, Myanmar and Vietnam. Deputy Governor of Savannakhet province Mr Khampheui Phanthachone was also present.
The meeting not only discussed expansion of the transport corridor but also touched on the bus route linking Thailand through Road No. 12 in Khammuan province to Vietnam.
Delegates reviewed the progress made in EWEC development in Laos, Myanmar, Thailand and Vietnam, particularly issues related to infrastructure and legislation development. They also discussed plans for the near future.
Since the corridor became operational in 2006, leaders of the four countries have attempted to transform the transport route into a full economic corridor to facilitate development and integration in the four nations and the region.
Officials said development of the EWEC would attract trade, investment and tourism.
According to a Vietnam News Agency report, the meeting appreciated Myanmar's integration efforts in upgrading its roads to connect with the corridor's road network.
The four countries agreed to hold a meeting soon with Lao, Thai and Vietnamese experts according to the Memorandum of Understanding on Initial Implementation of the Cross-Border Transport Agreemen t.
The conference called for increasing investment, industrial and service activities along the corridor to create economic and social benefits for transit countries.
The participating nations also called on the Asian Development Bank to help develop residential areas along the corridor and its extended roads, according to the Vietnam News Agency.
The East-West corridor is 1,450 kilometres long, spanning from Danang on the coast of central Vietnam, through central Laos and Northeast Thailand over to Maesod, on the border of Myanmar and to Mawlamyine on the Bay of Bengal.
Since the establishment of the East-West Economic Corridor via Savannakhet province, more investors have set up businesses in the province. More tourists are also exploring central Laos, stimulating more business activity, particularly in the service sector.
