[Asia Economy Reporter Hwang Yoon-joo] The Korea International Trade Association (KITA) jointly held an online preparatory meeting for the establishment of the 'Korea-Mekong Business Council' with the chambers of commerce of the five Mekong countries: Thailand, Vietnam, Myanmar, Laos, and Cambodia.
The Business Council is the first regular event held following the agreement between KITA and the chambers of commerce of Thailand, Vietnam, Myanmar, Laos, and Cambodia to jointly establish the council, which was decided at the '1st Korea-Mekong Summit' held in Busan last November.
The event was attended by economic leaders including KITA Chairman Kim Young-joo, Vietnam Chamber of Commerce Chairman Vu Tien Loc, Myanmar Chamber of Commerce Chairman Thura Min Win, and Thailand Federation of Industries Vice Chairman Arin Jira, who discussed the operation of the Business Council and the promotion of joint projects to expand mutually beneficial economic prosperity through local business entry and exchange between Korea and the five Mekong countries.
Specifically, joint projects such as international forums, policy seminars, business consultations, and exhibitions will be held in the second half of this year. They also agreed to deliver a joint petition to the governments of the six countries requesting the introduction of a mutual fast track (simplified entry procedures) to facilitate the entry of businesspeople affected by the COVID-19 pandemic, and to promote various international cooperation efforts including policy proposals to the counterpart governments to resolve difficulties faced by companies entering these markets.
Kim Young-joo, Chairman of KITA, said, "Korean and Mekong businesses are facing serious difficulties due to the spread of COVID-19," adding, "We will strive to ensure that the Korea-Mekong Business Council serves as a platform for cooperation that provides practical business opportunities for companies in both regions."
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