Chiang Mai Centred Subregional Development: Chiang Mai-Kunming Axis

Abstract

Through the initiative of the Northern Thai Chamber of Commerce and local politicians the Economic Quadrangle was established in 1992. This sub-regional organization is comprised of four Mekong riparian countries: Southern China or Yunnan, Laos, Myanmar and Northern Thailand. The success of this project has resulted from the new strategy of China during the Post-Cold War period to open up its economy to the outside world and readily accept foreign investment in numerous business sectors. Having been given considerable autonomy in developing cross-border trade, in line with the national policy of export-led growth, Yunnan's investment policies and related regulations are evolving and earlier difficulties regarding the imposition of numerous charges on foreign firms have been removed. In 2000, the representatives of the Chambers of Commerce of the Economic Quadrangle established the Joint Economic Quadrangle Committee whose aim was to strengthen cooperation in trade and investment as well as other aspects of economic development of the region.