TOKYO: Japan on Saturday pledged $7.4 billion in aid over the next three years to help fiveMekong states, in an attempt at fostering development in a resource-rich region also being courted byChina.
"The stability and prosperity ofEast Asiawill not be possible without the stability and prosperity of theMekongregion," Prime Minister Yoshihiko Noda told a joint press conference after the six-way summit inTokyo.
"The Japanese government will recognise theMekongregion as a significant destination of assistance and continue its cooperation strongly."
Noda met the five government leaders ofCambodia,Laos,Myanmar,ThailandandVietnam, asJapan's export-dependent economy is on the lookout for cheap labour and investment to power growth.
The region along the lower reaches of the 4,800-kilometre (2,980-mile)MekongRiverhas historically been isolated by war and political turmoil and remains poorer than other parts ofSoutheast Asia.
RivalsJapanandChinahave for years poured aid and investment into theMekongregion, home to more than 220 million people, and are seen increasingly as competitors for influence.
The Saturday morning summit is the fourth of its kind, and will also provide the latest stage forMyanmaras it journeys back to international respectability.
During its years of isolation,Japan-- unlike its Western allies -- maintained trade ties and dialogue withMyanmar, warning that a hard line on the then-ruling junta could push it closer toChina, its key ally and commercial partner.
Also Saturday, Noda will meetMyanmarPresident Thein Sein, when he is expected to announce thatJapanis ready to forgive 300 billion yen ($3.7 billion) debt and restart a suspended assistance programme.
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