The 5th Cambodia-Laos-Vietnam (CLV) Development Triangle Summit took place in Vientiane, Laos on November 26 with the aim of boosting trilateral cooperation in trade and finance in the region covering ten poverty-stricken provinces of three neighbouring countries.
Addressing the opening ceremony, Lao President Buoasone Bouphavanh stressed the need for cooperation among the three countries to be boosted and for policies and mechanisms to be completed in a favourable manner to attract a greater flow of investment into the region.
Boosting the triangle region's development would play a critical role in bridging the development gaps between the three countries, he said. Laos, Vietnam, and Cambodia must work together to develop special economic zones across their borders as well as to expand cooperation in the tourism, training, trade and finance sectors.
Vietnam's Prime Minister Nguyen Tan Dung expressed his satisfaction at the fine progress in the relationship and comprehensive cooperation between the three nations. He praised the meeting, which he said, offers a good opportunity for the three to review their cooperation in terms of co-developing the triangle region in order to establish orientations and incentives for their investors and those from other countries.
At the meeting, the Prime ministers of the three countries agreed to further develop their cooperation in transportation, mining, farm produce production and processing, energy, communications and tourism.
The leaders reached a consensus on the triangle development master plan until 2020, which seeks to combine each nation's development plan with cooperation among Mekong sub-region countries, particularly in the above-mentioned areas and in environmental protection.
They spoke highly of the memorandum of understanding on the creation of incentive policies and mechanisms to attract more investment to the triangle region. They expressed their satisfaction at the cooperation between CLV plus Japan and vowed to continue working alongside Japan to implement joint projects that have been agreed upon.
The three PMs approved a joint statement of the 5 th CLV summit, signed the Vientiane statement and a memorandum of understanding on the formation of incentive policies for the region.
The 4 th CLV Development Triangle Summit was held in Vietnam's central highland city of Da Lat in December 2006.
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