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CLMV economic development framework agreed

CLMV economic development framework agreed

The CLMV (Cambodia, Lao, Myanmar and Vietnam) countries have agreed on a framework for economic development, which will be submitted to CLMV’s leaders to approve next year, the Ministry of Commerce announced on Wednesday.

The announcement was made following the 11th CLMV Economic Ministers’ Meeting during the 51st Meeting of the Asean Economic Ministers which was held on September 5-8 in Bangkok.

The framework for CLMV development will be submitted to the countries’ leaders to approve at the 10th CLMV Summit, which is set to be held next year in Laos.

The development framework focuses on three elements, including connectivity to facilitate trade investment and cooperation, measures to attract skilled workers and investment in the sectors with comparative advantages – mainly agriculture, food and tourism.

The CLMV economic ministers’ meeting, which was chaired by Cambodia and led by Minister of Commerce Pan Sorasak, was attended by economic ministers and delegations from the CLMV countries as well as the Asean Secretariat.

At the meeting, the ministers discussed and reviewed the progress in the implementation of the CLMV Action Plan 2017-2018 and 2019-2020.

Highlighted were the two projects that have been successfully implemented – namely E-tourism, which is an innovative approach to tourism micro, small and medium enterprises in the CLMV countries, and the Assessment of Legal and Regulatory Frameworks on Electronic Commerce.

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