Thailand, China jointly support projects under LMC

BANGKOK, April 19 (TNA) -- China gives US$1.7 million of the Lancang-Mekong Cooperation (LMC) Special Fund to Thailand for several projects to facilitate trade and economic development in the Mekong Sub-region. Chinese Ambassador to Thailand Lyu Jian and Thai Commerce Ministry’s Permanent Secretary Nuntawan Sakuntanaga on Wednesday signed a memorandum of understanding on the fund distribution under the LMC mechanism. The LMC is jointly established by China, Cambodia, Laos, Myanmar, Thailand and Vietnam in 2016. Under the Five-Year Plan of Action, the LMC Special Fund is created to offer financial support for some 130 projects of LMC member countries. Thailand has said it will undertake four development projects on border trade and economic cooperation between un the sub-region using the LMC Special Fund. The Commerce Ministry says the LMC members aimed to build peace and prosperity in the sub-region through economic cooperation that will narrow economic disparities and promote growth. The grouping seeks to expand trade to US$250 billion by 2020. (TNA)