Vietnam has proposed that partners Cambodia, Laos, and Myanmar strengthen their cooperation to facilitate trade and remove barriers to boosting trade volumes between the regional countries, the Voice of Vietnam (VOV) has reported.

Addressing the 15th Cambodia - Laos - Myanmar - Vietnam Economic Ministers’ Meeting (CLMV EMM 15) in Semarang, Indonesia, on August 18, Minister of Industry and Trade Nguyen Hong Dien called for mutual support in the implementation of free trade agreements to which all four countries are signatories, to contribute to strengthening regional supply chains and supporting the development of their business communities.

CLMV EMM 15 was held as part of the 55th ASEAN Economic Ministers’ Meeting (AEM 55) and related meetings from August 17-22.

Delegates at the meeting discussed reports on the economic, trade, and investment situations in the four countries, the completion of the CLMV Action Plan for the 2021-2022 period, the progress of the CLMV Action Plan for the 2023-2024 period, and updates on the implementation of the Action Plan for the CLMV Development Framework and a project regarding a workshop on the socialization of the implementation of the Action Plan for CLMV Development Framework, and other important issues.

In regards to the CLMV Action Plan for 2023-2024, the Vietnamese delegation committed further support to Cambodia, Laos, and Myanmar at certain international fairs and expos it hosts.

A representative from the ASEAN Secretariat urged Cambodia, Laos, Myanmar, and Vietnam to continue supporting each other and carrying out more activities to help businesses with digital transformation and high-tech application in industrial production, facilitate the participation of the private sector, and ensure that regional supply and value chains are not disrupted.

It has been reported that trade between the four countries and the world reached more than $831 billion in 2022, up 10 per cent against 2021 and accounting for 21.6 per cent of total trade between ASEAN and the world.