Seoul - On December 16, 2020, the 20th Greater Tumen Initiative (GTI) Consultative Commission (CC) was successfully held by video conference. The high-level delegates from the GTI Member States (the Republic of Korea, the Russian Federation, Mongolia and the People’s Republic of China), as well as representatives from line ministries, the local governments of Northeast Asia (NEA), financial institutions, research institutions, business chambers and international organizations attended the meeting.
The meeting started with opening remarks delivered by Mr. Kim Yongbeom (1st Vice minister, Ministry of Economy and Finance, Republic of Korea), Ms. Natalia Stapran ( Director General, Ministry of Economic Development, Russian Federation), Ms. Mungunchimeg Sanjaa (Vice Minister, Ministry of Finance, Mongolia), and Mr. Wang Shouwen (Vice Minister and Deputy China International Trade Representative, Ministry of Commerce, People’s Republic of China). With the expectation of GTI playing a leading role in NEA economic cooperation, Mr. Kim Yongbeom also expected less tension and more economic cooperation between North Korea and South Korea in the future. He presented three visions for GTI by using its English initials: G for growth, T for transition, and I for integration.
Ms. Natalia Stapran affirmed that Russia strives to adjust to the new normal and reinforce the cooperation with member countries in the post-pandemic period to enhance infrastructure and transport networks, facilitate regional trade and revitalize tourism flows. Russia also believed that GTI boards and committees could deliver stronger outcomes by cooperating with EXIM banks and the private sector.
Ms. Mungunchimeg Sanjaa introduced the measures taken by the Government of Mongolia against the COVID-19 pandemic during 2020 and the expectations for 2021. Mongolia encourages the expansion of the regional collaboration in core sectors, and she believed that growth of these sectors, particularly tourism and agriculture development do profoundly align with the key focusses of the newly established Government of Mongolia.
Mr. Wang Shouwen affirmed in his speech that China will take focused actions to 1) enhance trade and investment liberalization, 2) forge greater synergy for trade and investment growth, 3) increase regional infrastructure connectivity, and 4) contribute to innovation-driven development in the region. China will collaborate with all members to foster emerging industries including e-commerce, AI and 5G, to inject fresh impetus into the regional economy.
The GTI Member States first positively reviewed the overall progress in priority sectors and partnership development since the 19th CC Meeting in August 2019, as well as the TORs of the Marine Cooperation Sub-Committee of Local Cooperation Committee (LCC). The GTI Strategic Action Plan for 2021-2024* and the project proposal on Promotion of SMEs’ Production by Enhancing the Implementation of Inward and Outward Processing Procedures were endorsed by the Consultative Commission.
During the second session, new project ideas about multimodal logistic routes and water environment were also presented by the representatives of Busan Metropolitan City, Gangwon Provincial Government, and Korea Water Resources Corporation. With the theme of “GTI’s Future Development Strategies”, the third session envisioned the future cooperation of GTI in Development and Health sectors, where invited speakers shared their experience and suggestions. Ultimately, GTI’s expenditure report, budget proposal and the work plan for the period ahead were endorsed by the Members States.
Before the closing of the meeting, members adopted the Seoul Declaration**. The Government of the Russian Federation took over the GTI CC Chairmanship and confirmed that the 21st CC meeting will be hosted and chaired by the Russian Federation in 2021.
** Seoul Declaration: /?info-767-1.html