China joins hands with neighbors to elevate subregional development (2)

Chinese Premier Li Keqiang (L) meets with Thai Prime Minister Prayuth Chan-ocha in Bangkok, Thailand, Dec. 19, 2014. (Xinhua/Huang Jingwen)

UPGRADE OF SUBREGIONAL COOPERATION

Li also attended the fifth summit of the Greater Mekong Subregion (GMS) Economic Cooperation here on Saturday.

While addressing the summit, Li announced that China will offer five neighboring countries opportunities of sharing with the Mekong River funds and production capacity aid to help better infrastructure connectivity, poverty reduction and production capacity.

The offer includes 1 billion U.S. dollars for infrastructure inter-connectivity, 490 million dollars in grant for poverty alleviation and 10 billion dollars in special loans, Li said.

In addition, China promised to invest 16.4 million dollars to dredge waterways along the Mekong River and prevent natural disasters, said Li.

The GMS Economic Cooperation Program, which was launched in 1992 by six countries along the Mekong River -- Cambodia, China, Laos, Myanmar, Thailand and Vietnam, is aimed at pooling joint efforts to improve regional infrastructure, enhancing trade, investment and economic growth.

Calling for innovation in GMS economic cooperation, the premier said China expects to export its high-level production capacity in such industries as electricity, telecommunication, steel and cement to neighboring countries, especially those on regional transportation routes.

China is going to finance infrastructure inter-connectivity and industrial production capacity exports by offering special loans as well as allowing currency swap in cross-border transactions and participation of private enterprises, Li said.

China will also provide 490 million dollars in aid next year to finance subregional poverty alleviation efforts, he said.

Such efforts, together with the farm produce trade cooperation agreed by China and Thailand Friday, are aimed at improving people's livelihood in the subregion, particularly farmers' life, said Li, adding that China will offer training programs for 3,000 people in the coming three years to the GMS countries for professionals of agriculture and health.

On a broader scale, Li said, the GMS economic cooperation, with a total trade volume of 150 billion dollars in 2013, will further enrich China's partnership with the Association of Southeast Asian Nations (ASEAN).

China stands ready to cultivate stable, peaceful and friendly relations with its ASEAN neighbors, he said, adding that China also welcomes the rest of the world to participate in the GMS development.

Thailand was the last stop of Li's three-nation tour, which also took him to Kazakhstan and Serbia.