The Indonesia–Malaysia–Thailand Growth Triangle (IMT-GT) started as an early attempt at economic liberalisation & integration in

ASEAN The Association of Southeast Asian Nations, commonly abbreviated as ASEAN, is a regional grouping of 10 states in Southeast Asia "that aims to promote economic and security cooperation among its ten members." Together, its member states r ...

. It was formally endorsed by Indonesia's President

Suharto Suharto (8 June 1921 – 27 January 2008) was an Indonesian Officer (armed forces), military officer and politician, and dictator, who was the second and longest serving president of Indonesia, serving from 1967 to 1998. His 32 years rule, cha ...

, Malaysia's Prime Minister

Mahathir Mohamad Mahathir bin Mohamad (; ; born 10 July 1925) is a Malaysian politician, author and doctor who was respectively the fourth and seventh Prime Minister of Malaysia, prime minister of Malaysia from 1981 to 2003 and from 2018 to 2020. He was the ...

and Thailand's Prime Minister

Chuan Leekpai Chuan Leekpai MPCh MVM ThChW (, , ; ; born 28 July 1938) is a Thai politician who served two terms as the prime minister of Thailand, from 1992 to 1995, and from 1997 to 2001. He is also the former president of the National Assembly of Tha ...

in 1993. The Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) subregional program aims to stimulate economic development in 32 of these three countries’ less-developed states and provinces, which are home to over 54 million people. The IMT-GT consists of: * 14 provinces in southern Thailand: Krabi, Nakhon Si Thammarat, Narathiwat, Pattani, Phattalung, Satun, Songkhla, Trang, Yala, Chumphon, Ranong, Surat Thani, Phang Nga, and Phuket; * 8 northern states of Peninsular Malaysia: Kedah, Kelantan, Melaka, Negeri Sembilan, Penang, Perak, Perlis, and Selangor; and * 10 provinces of Sumatra, Indonesia: Aceh, Bangka-Belitung, Bengkulu, Jambi, Lampung, North Sumatra, Riau, Riau Islands, South Sumatra, and West Sumatra. The

Asian Development Bank The Asian Development Bank (ADB) is a regional development bank to promote social and economic development in Asia. The bank is headquartered in Metro Manila, Philippines and maintains 31 field offices around the world. The bank was establishe ...

subsequently undertook a detailed feasibility study & formulated the framework for co-operation. The study concluded that the IMT-GT had great potential to stimulate cross-border economic integration in 6 priority areas, namely: Infrastructure Development; Agriculture & Fisheries; Trade; Tourism; Human Resource Development; and Professional Services.

The IMT-GT JBC

The IMT-GT Joint Business Council (IMT-GT JBC) was inaugurated in 1995 as the official vehicle to mobilise private sector participation & involvement in the IMT-GT. Between 1995 and 2005, the IMT-GT JBC facilitated the investment of an estimated US$3.80 billion worth of new projects in the IMT-GT region.

IMT-GT Goals

The overall goal of the IMT-GT is to accelerate private sector-led economic growth in the IMT-GT region by: * a. Increasing trade & investment by exploiting the underlying economic complementariness and comparative advantages; * b. Increasing exports to the rest of the world by enhancing competitiveness for exports and investment; * c. Increasing the welfare of the people by creating employment, educational, social and cultural opportunities in the IMT-GT region; * d. Encouraging the private sector to play a leading role, while the public sector facilitates and supports as much as possible

References

IMT-GT Secretariat
{{DEFAULTSORT:Imt-Gt 1993 establishments in Indonesia 1993 establishments in Malaysia 1993 establishments in Thailand Maritime Southeast Asia Economy of Indonesia Economy of Thailand International organizations based in Asia ASEAN Malaysia–Thailand relations Indonesia–Malaysia relations Indonesia–Thailand relations Foreign trade of Indonesia Foreign trade of Malaysia Asian Development Bank Mahathir Mohamad

The IMT-GT JBC

IMT-GT Goals

See also

References