Green light to Mekong links

Economy March 20, 2018 01:00

By VIET NAM NEWS
ASIA NEWS NETWORK
HANOI

GREATER Mekong Subregion (GMS) countries have reached a deal on the implementation of a cross-border transport facilitation agreement (CBTA).



Transport ministers from six GMS countries - Vietnam, Cambodia, Laos and Myanmar, as well as Thailand and China - on Thursday signed a memorandum of understanding (MoU) on the “Early Harvest” Implementation of the CBTA. This will allow the effective launch of GMS road transport permits and temporary admission documents for commercial vehicles, starting on June 1.

The news was released at the sixth meeting of the joint committee for the CBTA, co-hosted by the Ministry of Transport of Vietnam and the Asia Development Bank (ADB), which concluded in Hanoi on Thursday.

“The signing of this MoU is very important, contributing to facilitating the travel of people and enterprises in GMS countries and contributing to the development of trade between countries,” said Minister of Transport Nguyen Van The.

“Viet Nam is committed to creating the most favourable conditions, from the completion of internal procedures such as amendments and supplements to legal documents to facilitating international transport. We also organise communication for people and businesses to understand the progress and efficiency of the cross-border transport connection,” he said.

In particular, efforts would be made to adopt the “one-stop-shop” model at the border gates, which is quick and convenient not only for Vietnamese enterprises but also for the enterprises of other countries, the minister said.

With the support of the ADB as well as the efforts of each country, the transportation infrastructure has improved, essentially meeting the demand for the socio-economic development of GMS countries, according to the minister.

The Early Harvest Implementation of the CBTA includes simplified procedures, such as simplified, standardised, temporary admission documents for vehicles; the waiver of guarantees for vehicles and containers; and the waiver of temporary admission documents for containers.

The Early Harvest will be subjected to annual review by the joint committee, the statement says.

Contracting parties may start issuing GMS road transport permits and temporary admission documents to licensed international transport operators in their country with immediate effect. However, the actual movement of vehicles will commence on June 1. Myanmar will join the Early Harvest CBTA implementation with neigbouring countries during a grace period that will last until June 1, 2020.

The GMS countries recognised that the reduction of non-physical barriers to transport and trade is key to increasing the benefits of improved connectivity in and between their countries; boosting trade, tourism, and investment; and increasing competitiveness through cutting costs and improving living standards.