Countries of the Greater Mekong Subregion (GMS) met in Beijing on Tuesday and signed off on the remaining components of the GMS Cross Border Transport Agreement, which will facilitate trade amongst members of the region.
The agreement between China, Myanmar, Laos, Vietnam, Thailand and Cambodia will streamline customs inspections and visas for persons involved in transport operations as well as establishing regionwide standards for cross-border transit and commercial traffic rights exchanges.
This removal and reduction of non-physical trade and transport barriers is expected to stimulate the economies of the region, including Yunnan province, by increasing efficiency and reducing transport times on selected transport routes (see map).
The agreement has been in place since 2005 on the Laos-Vietnam border at Dansavanh and Lao Bao. Six new GMS border crossings will be included in the agreement this year.
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