KPL
The 16th Cambodia-Laos-Myanmar-Vietnam (CLMV) Economic Ministers' Meeting took place in Vientiane on Sep 18, 2024, chaired by Lao Minister of Industry and Commerce Malaythong Kommasith.
(KPL) The 16th Cambodia-Laos-Myanmar-Vietnam (CLMV) Economic Ministers' Meeting took place in Vientiane on Sep 18, 2024, chaired by Lao Minister of Industry and Commerce Malaythong Kommasith.
Attendees included Cambodia's Minister of Commerce Cham Nimul, Myanmar’s Minister of Investment and International Economic Cooperation Kan Zaw, Vietnam's Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan, and ASEAN Secretary General Kao Kim Hourn.
Minister Malaythong expressed pride in the Lao PDR’s role as ASEAN Chair this year under the theme "ASEAN: Enhancing Connectivity and Resilience." He highlighted that despite the complex global and regional environment, CLMV countries must strengthen unity and collaborate closely to overcome these challenges.
"The commitment of CLMV nations to achieve our shared vision of becoming a high middle-income region and a sustainable economic hub by 2030 remains strong. We are also aligned with the broader vision of establishing an ASEAN Economic Community by 2045," Malaythong stated.
Despite the challenges, he noted, CLMV countries have continued to achieve economic growth. In 2023, the region’s trade in goods reached US$767.7 billion, accounting for 21.6% of ASEAN’s total trade value. Foreign direct investment in CLMV countries rose by 5.4%, from US$25.1 billion in 2022 to US$26.4 billion in 2023.
During the meeting, participants reviewed and adopted the report from the CLMV senior economic officials' meeting, along with the CLMV action plan for 2025-2026. They also exchanged views and provided guidance on work plans for the continued development of the CLMV region.
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