The western part of China borders on South and Southeast Asia. Of the numerous well known international rivers sharing with the two regions, the Lancang2Mekong River has been most extensively studied in the world for its important strategic position, rich resources, prosperous potential market as well as considerable opportunities for investment and development. The sustainable multipurpose development in this area has increasingly become the focus of international regional cooperation, and great attention has been paid to this area by the international society. Up to now, at least 10 major actions in the international regional cooperation are expected in this area. This paper intends, at the angle of geography and with the overall target of promoting the sustainable development in the basin through international cooperations, to study the international position, the potential and the prospects for development of the Lancang-Mekong River, to analyze the main problems in this international cooperation, to propose targets and prospects for such cooperation, and to indicate the way for geographers to participate in such research.