Cambodia, Lao People’s Democratic Republic (PDR), Myanmar, and Viet Nam (CLMV) economic ministers endorsed the CLMV Action Plan 2021-2022 focusing on  (i) trade and investment cooperation, (ii) implementation of regional commitments, (iii) pandemic recovery plan, (iv) Framework for CLMV Development, and (v) human resource development. 

Expressing concern on the impact of the COVID-19 pandemic on economic activities, the ministers affirmed their commitment to enhance cooperation in mitigating the impact of the pandemic and restore business confidence in the sub-region.

They commended the progress in the implementation of the CLMV Action Plan 2019-2020, noting that many activities have been completed with positive results, such as the six trade fairs organized in 2019 in Viet Nam and Myanmar, and the finalized assessment reports on legal and regulatory frameworks on electronic commerce in the CLMV subregion supported by the Government of Japan and the “Development of Financial Literacy Programmes for Growing Micro Enterprises” supported by the Government of Australia. They recommended specific capacity building activities to address common challenges and limitations in the subregion. 

The economic ministers underscored the importance of improving digital connectivity and enhancing digital innovation, adoption and skills by government agencies, micro, small and medium enterprises, and the civil society to mitigate the impact of the pandemic and expedite recovery. 

Viet Nam Minister of Industry and Trade Tran Tuan Anh recommended seeking support from development partners for regional cooperation projects. He also proposed that countries facilitate trade, simplify customs processes and procedures in border areas, and enhance connectivity to ensure the operation of supply chains. 

The GMS Transport and Trade Facilitation Action Program, managed by the Asian Development Bank, is working to overcome existing barriers to link the Greater Mekong Subregion to the ASEAN Economic Community’s single market and production base.