The host PM, Bouasone Bouphavanh, making his opening speech, said that the Development Triangle is a zone of great importance for the three countries and is currently facing numerous difficulties.

The three countries should intensify their cooperation and complete a number of mechanisms and policies in order to facilitate the flow of investment and maximise their potential to develop the area, he stated.

Sharing this opinion, Cambodian PM Hun Sen said that addressing the development in the area would help to effectively narrow the development gap between the three countries.

Cooperation between the nations should be expanded, focusing on border economic zones as well as the tourism, trade, investment and training sectors.

Addressing the summit, Vietnamese PM Nguyen Tan Dung viewed the meeting as opportunities to discuss measures to increase cooperation between the three countries’, review the triangle’s development following the fourth summit in Da Lat , Vietnam , in December 2006, and approve preferential mechanisms between the three countries and with other partners.

The PMs agreed that the close and effective cooperation in the development of the triangle has yielded important results in a number of fields, including improved infrastructure and busy trade-investment activities in the area, helping to increase socio-economic development and improve the living conditions of those living in the triangle.

They agreed to intensify their cooperation in the economy, trade and investment and pledged to provide more favourable conditions to the three countries’ investors in the area.

The leaders approved of the recent signing of a memorandum of understanding to issue special preferential policies for the development triangle in order to attract investors from within the three countries, as well as others to the area.

Highlighting the important role played by businesses in developing the area, the leaders supported the Lao PM’s idea of organising a business forum to increase government-business dialogue and encourage them to contribute further to the development triangle.

They agreed to hold a youth forum for the three countries’ younger generations to meet and exchange their views and experiences.

The three PMS praised the effective cooperation between the three countries and Japan in developing the triangle and hoped that Japan would further its cooperation and financial commitment to development in the triangle.

Concluding the summit, the PMs passed the summit’s joint statement, and signed the Vientiane declaration on cooperation within the development triangle and a memorandum of understanding governing a range of preferential policies for the area.