(Xinhua)
Updated: 2008-03-30 13:41

VIENTIANE - Prime ministers of the six countries sharing the Mekong River are engaged in bilateral meetings and informal sessions here on Sunday, one day ahead of the Third Greater Mekong Subregion (GMS) Summit.

The Third Greater Mekong Subregion (GMS) Summit, to open in Vientiane, capital of Lao People's Democratic Republic on Monday, has as its theme "Enhancing Competitiveness Through Greater Connectivity".

The prime ministers of the Laos, China, Vietnam, Myanmar, Cambodia and Thailand will discuss coordinated actions to reduce poverty and promote sustainable development in the region through expanded transportation and telecommunication linkages, streamlined trade agreements, and greater environmental management efforts.

The leaders are being joined by Asian Development Bank (ADB) President Haruhiko Kuroda. ADB has been the lead supporter of the Greater Mekong Subregion Economic Cooperation Program since 1992.

Since its inception in 1992, the GMS has developed into one of the fastest growing regions of the world, with an average gross domestic product of over 6 percent in recent years.

Exports from GMS countries, excluding China, have quadrupled from 37 billion U.S. dollars in 1992 to 179 billion U.S. dollars in 2006, and foreign direct investment in the GMS has more than tripled from 2 billion U.S. dollars in 1992 to 7 billion U.S. dollars in 2005.

Annual tourist arrivals have also risen dramatically, from 10 million in 1995 to over 22 million in 2006.

Over the past 15 years, approximately 10 billion U.S. dollars in investments have been made in 34 regional development projects. ADB has contributed over one-third of the overall amount.

The GMS program focuses on nine development areas: agriculture, energy, the environment, human resource development, private investment, telecommunications, tourism, trade and transportation.

The GMS nations are expected to endorse on Monday a five-year action plan (2008-2012) to foster economic growth and prosperity in the region.