China, Southeast Asian leaders seek greater cooperation

Image
AP Sanya (China)
Last Updated : Mar 23 2016 | 5:02 PM IST
Leaders from China and five neighboring Southeast Asian countries met in a southern Chinese resort city today amid wariness but also hope for greater regional cooperation.
The inaugural Lancang-Mekong Cooperation meeting, named for the mighty waterway that begins in Tibet and discharges into the South China Sea in southern Vietnam, was framed by the Chinese and Thai co-hosts as a chance to deepen ties and cut trade deals in a fast-growing region.
The five Southeast Asian countries that run along the Mekong represent a key market for China under a sweeping strategy to boost trade and foreign investment called "One Belt, One Road." China has wooed the region with eye-catching projects including a textile-making hub in Cambodia, a deep sea port in Myanmar and new railways in Thailand.
Chinese Premier Li Keqiang, who co-hosted the summit in the city of Sanya with Thai Prime Minister Prayut Chan-ocha, called on participants from Myanmar, Cambodia, Laos and Vietnam to improve mutual trust, enhance trade and "make this region an important force for stability."
A number of development and trade deals were expected to be signed.
However, several countries have expressed concern about their giant neighbor's rise, including Vietnam, which has competing maritime claims in the South China Sea.
Escalating territorial conflicts have complicated what has generally been a decades-long Chinese effort to court its neighbors, with Beijing concerned over signs those countries may be drawing closer to regional rival the United States.
Earlier this month China released water from the Lancang River the segment of the Mekong River in southwestern China to alleviate drought in the Vietnamese Mekong Delta as a diplomatic gesture ahead of the summit.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 23 2016 | 5:02 PM IST

Next Story