BAGAN SUMMIT ISSUES PRESS STATEMENT
12-11-2003

1. The Heads of Government of the Kingdom of Cambodia, the Lao People's Democratic Republic, the Union of Myanmar and the Kingdom of Thailand held a very-productive and constructive meeting this morning. The discussions were cordial and fruitful.

2. We exchanged views on the Plan of Action for Economic Cooperation Strategy (ECS) which will contribute in promoting regional cooperation, especially in the context of the emerging ASEAN Economic Cooperation Community and to complement the ongoing bilateral frameworks.

3. At the Summit Meeting, we adopted and signed the Bagan Declaration in which we reaffirmed our commitment to accelerate economic growth, social programmes and cultural development in the region through joint endeavours in the spirit of equality and partnership in order to strengthen the foundation for a prosperous and peaceful community of nations.

4. We expressed our desire to achieve prosperity in the region, through enhanced solidarity, mutual respect, close friendship, good neighbourliness and active cooperation among the four nations, to fully harness our enormous economic potential to promote sustainable economic development, and to uplift the welfare and quality of life of our citizens.

5. We envisioned transforming the border areas of our four countries into zones of durable peace, stability and economic growth, to promote social progress and prosperity of our peoples and to blend national and regional interests for common benefit and shared prosperity.

6. The main objectives of the ECS are:
* To increase competitiveness and generate greater growth along the borders;
* To facilitate relocation of agricultural and manufacturing industries to areas with comparative
advantage;
* To create employment opportunities and reduce income disparity among the four countries; and
* To enhance peace, stability and shared prosperity for all in a sustainable manner.
7. The ECS activities shall be:
* Complementary to and enhance the existing bilateral and regional economic cooperation;
* Deliverable with tangible results, utilizing comparative advantage of each country:
* Feasible and be acceptable to the countries concerned;
* Undertaken on the basis of voluntary and equitable sharing of benefits; and
* Undertaken on the basis of consensus between the partners concerned.

8. We decided that the areas of cooperation of the ECS would include trade and investment facilitation, agricultural and industrial cooperation, transport linkages, tourism cooperation and human resources development.

9. We agreed to task the Ministers to implement the Plan of Action and the common and bilateral projects, in an efficient and expeditious manner and at the same time, encourage the private sector to fully participate in the implementation process in order to ensure the success of the ECS objectives. We also agreed to welcome external participation in implementing these joint projects.

10. We also agreed to convene Summit Meeting of the Heads of Government biennially and for the Ministers and the senior officials to meet annually, to expedite the implementation of the ECS. Myanmar will host the next ECS SOM and Foreign Ministers' Meeting in 2004 and a working group will be set up to consider a comprehensive biennial work programme.

11. We agreed to call the agreement "Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy" or ACMECS.

12. After the Summit Meeting, two energy related contracts between Myanmar and Thailand were endorsed in Bagan on 12 November 2003. On the same occasion, two energy related joint statements, one between Cambodia and Thailand and the other between Laos and Thailand, were signed. The occasion took place in the presence of the four Prime Ministers.

13. A discussion among Cambodia, Myanmar and Thailand to conduct a feasibility study on setting up of industrial estate zones in Myanmar and Cambodia was held in Yangon on 10 November 2003 and two Agreed Minutes one between Cambodia and Thailand and the other between Myanmar and Thailand were signed.

14. In conjunction with the Summit, Business Forum of the four countries was also held in Yangon on 9 November 2003.

Summit Meeting on Economic Cooperation Strategy
between Cambodia, Laos, Myanmar and Thailand
Bagan Archaeological Zone in Mandalay Division
Dated, 12 November 2003