Seventh Summit of Cambodia, Laos, Myanmar and Vietnam (CLMV 7) and sixth Summit of the Ayeyawady - Chao Phraya - Mekong Economic Cooperation Strategy (ACMECS 6) to be held in Nay Pyi Taw on June 22-23.
Prime Minister Nguyen Tan Dung is to lead the Vietnamese delegation to the 7th Summit of Cambodia, Laos, Myanmar and Vietnam (CLMV 7) and the 6th Summit of the Ayeyawady - Chao Phraya - Mekong Economic Cooperation Strategy (ACMECS 6) in Myanmar’s capital of Nay Pyi Taw on June 22-23 at the invitation of its President Thein Sein.
The CLMV Summit’s aim is to garner more cooperation in trade and economic investment, human resources development, agriculture and industry, minerals, hydropower, oil and natural gas, communications, and the development of the transport sector.
Vietnam has remained an important cog in the regional economic integration strategy and played a key role in preparation for summits and their holding over the years. Its involvement in both the CLMV and ACMECS summits has been particularly noteworthy.
For Vietnam, the two summits at Nay Pyi Taw have added importance, as 2015 marks the 40th anniversary of diplomatic ties between Vietnam and Myanmar, established on May 28, 1975. Over the 40 years bilateral ties have developed in a range of fields, including politics, economics, trade, and culture. Regional cooperative mechanisms will help develop this multifaceted cooperation between the two countries in the future. The establishment of the Vietnam-Myanmar Friendship Association has also been a catalyst in bringing the peoples of the two countries closer together.
There are prospects for the Bank for the Investment and Development of Vietnam to open a branch in Myanmar soon, the Vietnam National Oil and Gas Group to expand oil and gas exploration, and the military-run telecom provider Viettel to set up a joint venture with Myanmar’s Yantanarporn Teleport. Other areas where both can cooperate are rubber and food production and exports, including rice, seafood, vegetables and fruit. Myanmar is also happy to welcome Vietnamese investment in three newly-established exclusive economic zones.
Given their political understanding, both sides can work closely at regional and global forums, especially in sub-regional mechanisms such as ACMECS, the Cambodia-Laos-Myanmar-Vietnam Ministerial Summit, and the East-West Economic Corridor. A closer Vietnam-Myanmar relationship can be a catalyst in securing ASEAN solidarity, upholding the association’s central role in the evolving regional structure, maintaining peace and stability in the region, especially East Sea, and founding the ASEAN Economic Community by the end of 2015.
With Vietnam’s active role combined with the efforts of other CLMV and ACMECS member countries, the regular summit meetings help leverage and create the conditions for the arrival of the AEC at the end of 2015. When it materializes it will not only present huge opportunities for further cooperation, development and prosperity among ASEAN members but also hone the region’s economic footprint in global economic growth.