`Triangle' takes shape

`Triangle' takes shape

MANILA (AFP): A proposed "growth triangle" encompassing economically lagging parts of Indonesia, Malaysia and Thailand is slowly becoming reality, with governments and private firms showing a readiness to sign up.

A report forged by 25 teams of consultants brought together by the Asian Development Bank (ADB) has now listed over 50 policies and schemes needed to create the project, known as the Indonesia- Malaysia-Thailand Growth Triangle (IMT-GT.)

The goal is to integrate the economies of northern Sumatra and Aceh in Indonesia, northern Malaysia and southern Thailand in a bid to emulate the fabled growth of the China-Taiwan-Hong Kong triangle.

By harnessing the regions' respective strengths, gross domestic product (GDP) in the triangle could rise by 7.2 percent annually over 10 years, according to the report.

John Newton, a team leader in the drafting of the document, said trade and investment liberalization was a focus of their recommendations but cautioned that implementation would be difficult and many ideas may not be accepted by the three governments.