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Apr 20, 2016 / 13:45

Negotiation on CLV's Trade Promotion and Facilitation Agreement

The fourth negotiation round on trade and economic development agreement for the Cambodia-Laos-Vietnam Development Triangle Area (CLV-DTA) convened from April 18-20 in Vietnam.

Vietnam, Laos, Cambodia promoted Development Triangle area since 2015
Vietnam, Laos, Cambodia promoted Development Triangle area since 2015

On the first day of negotiations, the trade representatives from the three countries said they hope to hammer out a resolution to all differences that remain and come to an agreement boosting commercial trade among the 13 border provinces soon.

The border provinces of the CLV are rich in natural resources and have great potential in agriculture and forestry they said, however, due to poor infrastructure, the region has been stymied in its past economic development.

The CLV Development Triangle Area covers four Cambodian provinces (Ratanakiri, Stung Treng, Mondulkiri, Kratie), four Lao provinces (Attapeu, Salavan, Sekong, Champasak), and five Vietnamese provinces (Kon Tum, Gia Lai, Dak Lak, Dak Nong, Binh Phuoc). These provinces are rich in natural resources and boast advantages for agricultural and forestry development. 

Officials from the three countries are to focus on resolving remaining difficulties and obstacles to soon reach consensus on clauses and finalise the agreement on schedule as set by leaders of the three countries. The agreement is expected to boost trade activities and goods movement among 13 provinces in the triangle of the three countries. 

Officials also hope the deal will allow relevant localities to make full use of their potential and advantages as well as promote economic cooperation and investment in the development triangle in particular and the three countries in general.