Comprehensive News & Analysis

16-12-2020 | 15:19 PM

CLMV Countries

• The sixth India-CLMV Market Conclave 2020 was held recently. India welcomed the CLMV countries to join the International Solar Partnership and the Resilient Supply Chain Project during the conclave.
• The Conclave took place yesterday under the theme "Building Bridges for Constructive Development."
• During the conclave, India stated that it was able to share the COVID-19 vaccine with CLMV countries. This is vital to the leading economy in order to avoid nationalism from being vaccinated.

About CLMV Countries:

• Cambodia, Laos, Myanmar and Vietnam are the CLMV countries. The CLMV countries have a special role in the field of SouthEast Asia.
• Countries serve as a gateway to market entry to the European Union and China, as well as to other countries, through numerous trade agreements.
• Four countries have rich natural resources such as gold, oil, natural gas, gemstones and teak.

India’s interest in CLMV countries:

• India aims to expand its trade and investment in these countries as they benefit from free trade deals with countries such as China. India's trade with China via this road is going to be much cheaper.
• In other words, India will invest in these countries and make a profit by selling its return to China.

India-CLMV:

• India has provided medication and medical supplies to the CLMV area. In addition, India has qualified medical staff from the region under the I-TEC programme.
• India has set up a CLMV project finance fund with a corpus of Rs 500 crores.
• That includes the development of the Kaladan Multimodal Transit-Transport Network.