GMS Ministers Endorse Plan to Accelerate Cross Border Transport, Trade – Financial and Business News – MENAFN

GMS Ministers Endorse Plan to Accelerate Cross Border Transport, Trade

Nov 25, 2013 (Menafn – M2 PRESSWIRE via COMTEX) –Countries of the Greater Mekong Subregion (GMS) have endorsed measures to expedite and expand cross border transport and trade, including stepping up bilateral and trilateral country agreements.

\”Intraregional trade, tourism, and investments are essential for boosting growth and standards of living in the subregion,\” said James Lynch, Director of the Asian Development Bank\’s (ADB) Regional Cooperation Division in the Southeast Asia Department. \”Member countries have agreed to continue to fast track and streamline transport and trade facilitation measures, and we will continue to accelerate our common goals of transforming transport corridors into economic corridors.\”

At the 4th Joint Committee Meeting for the GMS Cross Border Transport Agreement (CBTA) in Nay Pyi Taw, Myanmar, GMS transport ministers endorsed a three-year action plan (2013 to 2016) to support implementation of the next phase of transport and trade facilitation measures. This pioneering transport agreement, ratified in 2003, provides a blueprint for non-physical measures needed to boost cross border land transport, including \’single stop\’ customs inspections. ADB is a key development partner of the GMS, and serves as secretariat for the Joint Committee.

via GMS Ministers Endorse Plan to Accelerate Cross Border Transport, Trade – Financial and Business News – MENAFN.

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