News and Events

News Release

No. 07/04 4 March 2004

GMS Trade Fair Inaugurated In Hanoi

HANOI, VIET NAM (4 MARCH 2004) – The first Greater Mekong Subregion Trade Fair, which opened in Hanoi, will help promote stronger trade linkages in the subregion, a senior Asian Development Bank (ADB) official said today.

The trade fair, hosted by the Viet Nam Chamber of Commerce and Industry (VCCI), gathers about 200 exhibitors from Association of Southeast Asian Nations countries and the People’s Republic of China. The aim is to foster GMS internal trade and investment and promote business cooperation and relations between Viet Nam and its regional trading partners.

Rajat Nag, Director General of ADB’s Mekong Department, addressed the fair’s opening ceremony. In his speech, he emphasized the important role of private sector in economic growth, which leads to poverty reduction in the Mekong region.

Besides the exhibition of GMS products, a GMS Core Member Meeting and an affiliated GMS Trade and Investment Promotion Conference were being held to discuss potential opportunities for GMS Cooperation and regional projects.

ADB facilitated the core group meeting of the GMS-Business Forum (GMS-BF) regional chamber of commerce representatives. The GMS-BF plays a strong role in facilitating regional business networking and their outreach to the international trade and investment community. It aims to disseminate information on trade, investment, and market access opportunities gained at the trade fair back to their small and medium enterprise (SME) members, including the opportunity for business-to-business networking and international market access.

“The trade fair was an excellent opportunity for enterprises across the region and internationally to review new product lines and undertake much stronger trade linkages,” Mr. Nag said. “It was also a very good opportunity for ADB to meet with the private sector and identify mechanisms where the GMS-BF may better respond to SME demands for value-added market information services.”

Many dignitaries attended the event, including Deputy Prime Minister Pham Gia Khiem, Under Secretary General of UN-ESCAP Dr. Kim Hak-Su, Japanese Ambassador Mr. Norio Hattori and many delegates from the People’s Republic of China, Republic of Korea, Japan, Myanmar.

The GMS Program was initiated in 1992 with the support of ADB. It promotes economic cooperation among Cambodia, Lao People’s Democratic Republic, Myanmar, Thailand, Viet Nam and Yunnan Province of the People’s Republic of China. The program covers nine sectors: transportation, telecommunications, energy, environment, human resource development, trade, investment, tourism, and agriculture.

ADB is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance. Established in 1966, it is owned by 63 members – 45 from the region. In 2003, it approved loans and technical assistance worth US$6.1 billion and US$177 million, respectively, of which $179 million in loans and $8.6 million in technical assistance were for Viet Nam.

Contacts

Media Inquiries Only VRM ADB NR 07/04 Bradford Philips Tel: +844 933 1374 to 76 Email: bphilips@adb.org Electronic versions of ADB news releases Online Media Center: http://media.adb.org Internet site: http://www.adb.org