IMT-GT is an acronym for The Indonesia-Malaysia-Thailand Growth Triangle which was formally endorsed by Indonesia’s President Suharto, Malaysia’s Prime Minister Tun Dr. Mahathir Mohammad and Thailand’s Prime Minister Chuan Leekpai in 1993.
The main objectives of The IMT-GT are to function as an engine of growth to boost economic, social and cultural ties between the nations by exploiting their underlying complementariness' and comparative advantages.
Its Joint Business Council (JBC)- consisting of business people from three member countries is the official representatives body for the IMT-GT leading the private sector agenda to drive the economic development of the IMT-GT with the role of the Governments left primarily to support and facilitate wherever possible the activities of the private sectors.
Apart from JBC, there is also the specific committee under The Implementing Technical Groups (ITGs). ITGs concentrate in promoting economic progress in their assigned economic sectors and they are currently focusing on:
Infrastructure Development
Cross-Sectoral Development (i.e. HRD, Training, Academic Collaboration, etc.)
Sectoral Development (i.e. Tourism, Travel, etc.)
Trade and In-Situ Development (Trade Barriers, Trade Zones, Logistics, etc.)
Development of the Hinterlands (i.e. Agriculture, Fisheries, Forestry, Natural Resources, etc.)
Open Market Operations (Telecommunications, Professional Services, etc.)
IMT-GT has great potential within its framework of co-operation to stimulate cross-border economic integration. The IMT-GT Joint Business Council, inaugurated in 1995 has facilitated investments estimated at US$3.8 Billion in projects for the IMT-GT region.
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