Illustration: Xia Qing/GT

The eighth Greater Mekong Subregion (GMS) Summit will be held under the theme "Toward a Better Community Through Innovation-driven Development" in Kunming, Southwest China's Yunnan Province on Wednesday and Thursday, Chinese Foreign Ministry spokesperson Mao Ning announced on Monday.

Through this summit, China hopes to have in-depth exchanges with other parties, with an emphasis on openness, innovation, connectivity and coordination; to strive for new progress in cooperation in key areas including regional connectivity, trade and investment, agriculture and poverty alleviation; and to make greater contributions to promoting sustainable development and economic integration in the region, Mao noted.

The GMS economic cooperation mechanism has made significant strides in fostering regional economic coordination and cooperation since its establishment more than three decades ago. In a world facing a sluggish economic recovery and geopolitical challenges, this regional economic cooperation mechanism is poised to further enhance economic and social development, as well as promote prosperity and stability in the region.

With the concerted efforts of the six GMS member countries - China, Cambodia, Laos, Myanmar, Thailand and Vietnam - as well as the Asian Development Bank, the GMS has vigorously advanced. The areas of cooperation among members have expanded, covering transportation, energy, information and communications, the environment, agriculture, human resource development, tourism, and economic corridors, yielding fruitful results.

Notably, regional connectivity is among the three key pillars of GMS cooperation - community, connectivity and competitiveness. The improvement and connectivity of infrastructure sectors have provided strong support for the free flow of factors of production such as goods, capital, technology and personnel within the region, and greatly enhanced the overall competitiveness and sustainable development capacity of the regional economy.

The GMS cooperation mechanism has helped the road network of the region expand by almost 200,000 kilometers, and overland road freight has almost doubled, supporting the region's economic development potential. For the countries in this region, "hard infrastructure" such as railways, roads, ports and bridges is the most urgently needed, and this happens to be China's advantage, as it has the most complete industrial infrastructure chain. Chinese companies have successfully completed some of the most challenging projects in the region.

For instance, the China-Laos Railway has transformed Laos from a landlocked country into a land connectivity hub linking Thailand, Cambodia, Malaysia and Singapore. It has expanded the international logistics network, significantly reducing transportation costs and time, injecting vitality into the regional economy.

Meanwhile, there has been a rising focus in GMS cooperation in recent years on the rules, regulations, agreements and other "software" to facilitate economic and trade cooperation among GMS members.

GMS cooperation is a practice of regional economic integration among developing countries. It adheres to the principles of openness and inclusiveness, and does not exclude the possibility of connecting and cooperating with other economic integration mechanisms both within and outside the region. 

GMS is also actively engaging in effective alignment and collaborative development with regional and external cooperation frameworks such as the Belt and Road Initiative (BRI), the ASEAN Economic Community, and the Regional Comprehensive Economic Partnership (RCEP).

Over the past 30 years, GMS cooperation has shown remarkable vitality. However, with the rise of uncertainties in the international economic and trade landscape, as well as geopolitical factors, it is essential for GMS cooperation to capitalize on the opportunities presented by the BRI and the RCEP to promote the GMS collaboration to new heights. It is vital to strengthen economic ties and cooperation among GMS countries to enhance trade, investment and infrastructure connectivity. This includes continuing to improve transport and logistics networks to facilitate the movement of goods and people. Further removing barriers to trade and transport is crucial to facilitating closer regional trade cooperation.

It is also essential to attach importance to sustainable development. Many GMS countries are transitioning from agricultural to industrial economies, and while they strive to utilize resources for economic growth, they face significant challenges in balancing ecological concerns with sustainable development. Timely measures are needed to prevent or mitigate substantial damage to the ecological environment, ensuring that economic activities remain vibrant and sustainable. 

The author is a reporter with the Global Times. bizopinion@globaltimes.com.cn