Local governors seen as key to boost GMS trade

Asian Development Bank's Southeast Asia director says region must work at provincial level to better develop trade corridors

GREATER involvement by provincial governors and officials in efforts to boost economic ties between Greater Mekong Subregion (GMS) countries could lead to a “doubling or quadrupling” of trade in the region, a senior Asian Development Bank official said Wednesday.

Speaking on the sidelines of the opening day of a new economic forum in Phnom Penh, ADB Director General for Southeast Asia Arjun Thapan told the Post that provincial governors from the six member countries hold the key to facilitating trade and investment in the region through the development of so-called economic corridors.

“Intraregional trade in the GMS has remained resilient despite the global crisis,” he said. “Now we are looking at the potential of doubling or quadrupling this intraregional trade by opening up the borders, making the borders work more efficiently and more effectively, and by pulling in investments along the transport corridors to drive economic growth.” Click to read more...