| Northeast Asia regional economic cooperation takes a major step forward |
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ULAANBAATAR, 24 - 25, March 2009 -- Northeast Asia regional economic cooperation gets a strong boost from the Greater Tumen Initiative (GTI)’s events (10th meeting of the Consultative Commission, 2nd GTI Investment Forum and 3rd BAC meeting) held on the 24th – 25th of March in Ulaanbaatar, Mongolia.
The Deputy Prime Minister of Mongolia, Mr. Miyegombo Enkhbold participated in the 10th CC meeting and Investment Forum.
The Greater Tumen Initiative (GTI)’ Consultative Commission meeting was successfully concluded on 24th March in Ulaanbaatar, with the adoption of “Ulaanbaatar Declaration”. The participants agreed to further strengthen regional cooperation for economic growth and sustainable development in Northeast Asia.
The 10th meeting of the GTI Consultative Commission, hosted by Mongolian government, brought together high-level government officials from the GTI member countries (the People’s Republic of China, Mongolia, the Republic of Korea and Russia Federation) and UNDP. The participants reaffirmed their commitment to promote this initiative and actively exchanged their views in a cooperative atmosphere.
The meeting demonstrated the progress in regional cooperation among GTI countries and resulted in a number of concrete decisions.
The progress of the “GTI Projects” (approved at the 9th CC meeting for joint realization) was actively discussed by the participant governments. The participant governments agreed on concrete steps for the continuing promotion and branding of these projects to attract more foreign investment. Furthermore, the Meeting identified some new projects for joint realization in the coming period.
For the purposes of technical procedural facilitation of regional trade among the GTI countries, the participants expressed their interest in the establishment of the Trade Facilitation Committee.
During the 10th CC meeting, a Joint session with the GTI Business Advisory Council (BAC) was organized for the first time. It laid a solid foundation for strengthening the public–private dialogue in Northeast Asia. During the session, the investment climate and barriers, in particular the issues of customs and trans-border shipments in the region were discussed by the participants who agreed to cooperate more closely to make the region more attractive for investment in GTI countries.
A new institutional structure – the GTI Transport Board was established at the 10th CC meeting, with the purpose of developing proper transport infrastructure and a logistical network to support economic cooperation among GTI countries.
The 10th CC meeting was followed by the 3rd BAC meeting, hosted by Mongolian company ″Petrovis″. During this meeting the high-level business participants discussed the issues of investment climate in NEA and stressed the importance of strengthening the public-private partnership in Northeast Asia.
The 2nd GTI Investment Forum was held on 25th March, gathering about 200 participants from different countries, who discussed actively the economic situation, investment climate and cooperation in Northeast Asia.
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