THE economic corridor approach to subregional development will play a central role in GMS economic cooperation in the next decade, leaders of the Greater Mekong Subregion countries agreed at the Fourth GMS Summit held in Nay Pyi Taw, Myanmar, yesterday.

The economic corridor development should be pushed forward, according to the Nay Pyi Taw Declaration which was endorsed by GMS leaders at the summit.

The economic corridor development in the next decade will emphasize the need to broaden and deepen existing transport corridors, according to the GMS 10-Year Strategic Framework (2012- 2022).

The declaration pointed out that to achieve this goal, the GMS countries should take account of inter-linkages across sectors, ensure that benefits are spread extensively along and around the corridors (such as through the development of border and corridor towns), and accelerate and vigorously implement transport and trade facilitation measures.

They should also promote logistics and investments along the corridors, strengthen the role of small and medium enterprises, pay due attention to social and human resource concerns (including ensuring regulated cross-border movements of people and promoting food and energy security), and appropriately address climate change concerns, the declaration said.

Three economic corridors, the North-South Economic Corridor, the East-West Economic Corridor and the Southern Economic Corridor, are being developed by the GMS.

Under the theme "Beyond 2012: Towards a New Decade of GMS Strategic Development Partnership," the Fourth Greater Mekong Subregion Summit was held at the Myanmar International Convention Center here.

The Greater Mekong Subregion Economic Cooperation Program was started in 1992 by Cambodia, China, Laos, Myanmar, Thailand and Vietnam which share the Mekong River.