The World Bank (WB) has drafted a strategy on economic cooperation across the Greater Mekong Sub- region (GMS) which centers on enhancing collaboration on Mekong water resource management, and further supporting the development of power trade, a bank official said Friday.

In the draft strategy, slated for being submitted to the WB's Board of Directors in late May for approval, the bank will " support the development and implementation of a Mekong water resources partnership program, continue to work on regional power trade, facilitate increased transport and trade, and work on human resource issues, especially labor migration," said Ian Porter, WB Country Director responsible for East Asia and the Pacific region, at the World Bank GMS Strategy Consultation.

The WB supports the establishment and convening of meetings of the GMS Expert Working Group on Power Trade and Interconnection, technical assistance, and facilitation of the drafting of the GMS Intergovernmental Agreement on Power Trade, he said, noting that recent developments among GMS countries, namely China, Myanmar, Cambodia, Laos, Thailand and Vietnam, including the approval of a project on building the Nam Theun 2 hydroelectric plant in Laos with investment of 1.2 billion U.S. dollars, indicate a new phase of power trade market development.

At the one-day consultation, Hoang Viet Khang, Deputy Director General of the Foreign Economic Relation Department under the Vietnamese Ministry of Planning and Investment, said Vietnam has actively implemented GMS initiatives, especially those on building interconnected roads and railways, and facilitating cross-border movement of people and goods.

"Vietnam is implementing joint check of goods and joint recognition of the check results at six international border gates nationwide on a trial basis," he noted.

The GMS countries have worked together for closer economic ties by speeding up the implementation of the GMS Economic Cooperation Program since it was initiated by the Asian Development Bank in 1992.

Under the program, the six participating countries have prioritized over 100 projects in eight sectors, including investment, trade, transport, tourism, telecommunications, energy, environment and human resource development, which have helped promote the sub-regional economic integration by increasing connectivity through infrastructure development and multilateral agreements.