Leaders from six nations along the Lancang-Mekong River have charted a bold course for regional development, unveiling a comprehensive five-year action plan aimed at deepening economic and social cooperation. At the fourth Lancang-Mekong Cooperation (LMC) Leaders’ Meeting, held virtually under the theme “Join Hands on the Building of a Community of Shared Future and Modernization,” China, Cambodia, Laos, Myanmar, Thailand, and Vietnam pledged to work together towards shared prosperity.
The meeting, held on December 25, marked a significant milestone for the LMC mechanism, which since its inception in 2016 has been instrumental in enhancing livelihoods and fostering integrated development among the six countries. Cross-border investments have flourished along the Lancang-Mekong River Basin, and collaborative efforts in technology-driven water resource management have bolstered governance of this vital waterway.
A key highlight of the meeting was the agreement to accelerate the development of the Lancang-Mekong Economic Development Belt (LMEDB). Leaders emphasized the importance of deepening integration through significant cross-border initiatives in trade, production capacity, and agriculture. China’s commitment to introduce a specially designated loan for common development within the LMC framework was particularly noteworthy, signaling continued support for infrastructure and industry projects that benefit all member nations.
This common development loan aims to bridge disparities across critical areas such as connectivity, cross-border economy, water resources, agriculture, and poverty reduction. The recent successes of joint initiatives like the Lancang-Mekong Space Cooperation Plan and collaborative water resource management underscore the role of flexible financing in advancing technological innovation. Member countries are keen to harness smart technologies and satellite development to address shared challenges in agriculture and resource protection.
Another significant outcome of the meeting was the collective resolve to promote “people-centered development” within the LMEDB. In recent years, the emphasis on trade and economic exchanges has been central to delivering tangible benefits to the people. Infrastructure projects such as enhanced rail and road connectivity, upgraded airports, expanded power grids, and investments in green energy have not only boosted local employment but also integrated the Lancang-Mekong countries into a network of increasingly interconnected regional economies.
As the Lancang-Mekong nations embark on this new phase of cooperation, their shared commitment to modernization and building a community with a shared future promises to set new benchmarks for regional integration and development. The collaborative efforts of these neighboring countries highlight the potential of unified strategies in achieving sustainable growth and prosperity for all.
Reference(s):
Lancang-Mekong Cooperation sets new benchmarks for modernization
cgtn.com
