Addressing the 2^nd Asia Cooperation Dialogue (ACD) Summit held in Bangkok yesterday, Prime Minister Thongloun Sisoulith highlighted the development of hydropower as a key force driving economic growth along with the implementation of a green growth oriented sustainable development strategy.

The prime minister also told the gathering that connectivity is another area the government currently prioritises and promotes with a large amount of financial resources spent on the development of basic infrastructure and especially transport facilities.

He highlighted the role connectivity will play in socio-economic development in the Lao PDR saying that the Lao government has a vision to transform the country from a landlocked to a land linked nation.

He said that the vision will not only create favourable conditions for the Lao PDR but also promote connectivity with neighbouring countries and the sub-region as well.

The speech by the prime minister also stressed the promotion of tourism industry, especially cultural tourism and natural tourism, and urged the meeting to put in place mechanisms necessary to monitor the implementation of cooperation initiatives and agreed upon the proposed establishment of a permanent secretariat which will report on and monitor cooperation projects under the ACD framework.

He also urged the member states to continue to promote the participation of the private sector in the overall cooperation efforts in all areas under the ACD framework focusing on tapping the huge potential of the private sector for the promotion of trade, investment, and tourism among member countries.

The 2nd ACD Summit was held under the theme “One Asia, Diverse Strengths” where 34 leaders of Asian countries in all the sub-regions discussed how to mobilize Asia’s strengths and resources to reignite and drive the next phase of global growth.

The gathering of Asian Leaders was a live portrait of the “Asian Century,” the time when the global economic momentum is centered in Asia.

For more than a decade, the world has witnessed the Asia’s ascendancy to the world stage, spurred by the rapid socio-economic development and geopolitical shifts. It is undeniable that Asia is now the world’s largest hub that injects “fuel” to the global economy to drive new financial cooperation, inclusive growth and sustainable development agenda.

The Summit placed its activities in the context of regional and global development. ACD member states align their collective endeavors with the UN 2030 Agenda for Sustainable Development through the prioritization of ACD’s 6 pillars of cooperation: (1) Connectivity (2) Science, Technology and Innovation (3) Education and Human Resource Development (4) Food, Energy and Water Security (5) Culture and Tourism, and (6) Promotion of Inclusive Growth and Sustainable Development.