Bangkok, 6th September 2018 – A meeting on trade value within Greater Mekong Sub region (GMS) 6, has acknowledged the need to reduce barriers to cross-border trade to pave the way for regional connections.
The Thailand Convention and Exhibition Bureau (TCEB) and the GMS Freight Transport Association organized an international seminar on logistics in the GMS and the reduction of trade obstacles in the sub region, which includes Thailand, China, Cambodia, Lao PDR, Myanmar and Vietnam.
Former World Trade Organization Director, Supachai Panichapak remarked in an address to the seminar that cooperation with the GMS has developed steadily over the years with the GDP of all six GMS countries combined likely to expand 15 percent. He pointed out that logistics and travel connections between the countries are crucial to it playing a more important role in Asia, noting that cross-border transport continues to be a key challenge. To overcome trade obstacles, Supachai recommended a central agency be established to do away with economic barriers.
Between 2013 and 2022, an estimated 70 billion USD is expected to be invested in transport infrastructure in the GMS. The culmination of the better connections will be the GMS Economic Corridor.