Cambodia-Lao PDR-Myanmar-Viet Nam (CLMV) Economic Ministers exchanged views on the economic development in CLMV countries and the challenges they faced in the midst of growing uncertainties in the global financial market. The Ministers noted that CLMV’s nominal GDP in 2011 has increased by 14.1% from 2010 to US$ 194 billion, which accounts for 8.9% of ASEAN’s nominal GDP. The Ministers also noted that foreign direct investment to CLMV countries reached US$ 8.6 billion in 2011, which accounts for 9.7% of total foreign direct investments into ASEAN. “We work closely to draw up development plans to seek financial support from development partners and other countries to support our four youngest Member States accelerating their development,” said Dr Surin Pitsuwan, Secretary-General of ASEAN.

The Fourth CLMV EMM was held in Siem Reap, Cambodia this week and chaired by H.E. Nam Viyaketh, Minister of Industry and Commerce of Lao PDR.

To see the full Joint Media Statement, please click here.

To see the pictures from the 44th ASEAN Economic Ministers (AEM) Meeting and Related Meetings, please click here.