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Wang Yi: The LMC Evolves from Nurturing Period to Growing Period

On December 15, 2017, after attending the 3rd Lancang-Mekong Cooperation (LMC) Foreign Ministers’ Meeting in Dali, Yunnan, Foreign Minister Wang Yi expressed to Chinese and foreign journalists that since cooperation progress has been launched in the 1st LMC Leaders’ Meeting in March last year, the LMC has upheld the theme of “Shared River, Shared Future”, given full play to the advantages of geographic proximity, affinity and economic complementarities of the six countries, and established a “3+5 (3 pillars and five priority areas) Cooperation Framework”, namely, taking political security, economic and sustainable development and social, cultural and people-to-people exchanges as three pillars, and carrying out cooperation in five priority areas including connectivity, production capacity, cross-border economy, water resources, agriculture and poverty reduction. Up to now, we have forged the LMC mechanism featuring leaders' guidance, broad participation and all-round coverage and created the LMC speed of daily progress, monthly results and yearly updates. We have cultivated the LMC culture featuring equal treatment, sincere mutual assistance and family-like atmosphere and built an efficient, practical, project-based LMC mode that focuses on people’s living. The LMC has driven constant deepening of political mutual trust among the six countries, rapid expanding of economic and trade cooperation and more frequent exchanges among people. The all-round cooperation has started to take shape, evolving from its nurturing period to the growing period.

Wang Yi said that five progresses have been made over the past one and a half years since the LMC has started:

The first is that all six countries have established LMC national secretariats / coordination units. All the joint working groups on the key priority areas have been set up and put into operation. The LMC mechanism has been fully formed.

The second is that the Lancang-Mekong Water Resources Cooperation Center, Environmental Cooperation Center and the Global Mekong River Studies Center have been set up and the work has been carried out.

The third is that cooperation projects have been implemented in a timely manner. 45 early-harvest projects and 13 initiatives proposed by China on the 2nd LMC Foreign Ministers’ Meeting were advanced as planned, most of which have been completed and made substantial progress. Since then, hundreds of new cooperation projects in various fields have successively been formed and implemented.

The fourth is that special fund has been comprehensively launched. After the earnest review and evaluation of competent departments and experts, the LMC Special Fund set up by China has decided to provide support for 132 cooperation projects.

The fifth is that financial support has gradually been put into place. Nearly two thirds of RMB concession loan set up by China has been implemented. Special loan on production capacity cooperation has been over fulfilled. Preferential export buyer’s credit is effectively implementing.

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