According to Le An Hai, deputy head of the Department of Asian and African Markets under the Ministry of Industry and Trade, the agreement was signed on November 23, 2016, after two years of negotiation. To date, Laos and Vietnam have ratified the pact, while Cambodia is still working on the ratification.
The agreement presents special mechanisms to support poor localities in the triangle area and stimulate border trade.
The Ministry of Industry and Trade is in charge of drafting the plan for the agreement’s implementation, which is expected to include trade promotion and facilitation activities, a mechanism to examine the realization of the parties’ trade commitments, as well as issues related to technical cooperation and working coordination among ministries, sectors and localities.
Participants, who are representatives from different government units and sectors, suggested widespread communications activities on the agreement to create unanimity among public agencies, businesses and residents during implementation.
They stressed the delegation of power and allocation of financial sources in order to enable localities to tackle difficulties and work well with their Lao and Cambodian partners.
They proposed the organisation of information exchanges and annual reviews of cooperation outcomes.
The conference was held on the sidelines of the ongoing 11th meeting of the CLV Development Triangle Area joint coordination committee, which runs from December 15 – 19.
The CLV Development Triangle Area consists of 13 provinces, including four in the east of Cambodia, four in the south of Laos, and five in Vietnam.