Bright prospects in store for China-Myanmar cooperation
- By Guo Yiming
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E-mail China.org.cn, January 16, 2020
China and Myanmar share strong economic complementarities and have a broad prospect for further cooperation, said Xu Ningning, executive president of China-ASEAN Business Council, on Jan. 14.
Xu told China.org.cn that President Xi Jinping's upcoming visit to Myanmar on Jan. 17-18 will enhance the fraternal relationship between the two countries and is expected to bring bilateral economic and trade cooperation to a new level.
Recently, trade between the two neighbors is expanding. According to data from China's Ministry of Commerce, China-Myanmar trade reached US$13.54 billion in the first nine months of last year, an annual increase of 17.9%. Over this period, China's imports from Myanmar jumped 32% to reach US$4.67 billion.
Myanmar is also an active player in the Belt and Road Initiative (BRI), and the country has set up a special steering committee chaired by Myanmar's State Counselor Aung San Suu Kyi to implement tasks related to the Belt and Road.
Xu said this demonstrates Myanmar's strong willingness to participate in the China-proposed initiative and further promotes bilateral relations under the BRI framework.
China has become Myanmar's largest trading partner and important source of foreign investment as bilateral economic and trade cooperation between both countries continues to deepen.
Xu said the close ties comes not only from the long-standing Paukphaw friendship, but also from their huge economic complementarities.
In addition to existing cooperation in infrastructure as well as the development of the China-Myanmar Border Economic Cooperation Zone and China-Myanmar Economic Corridor, the two countries are expected to tap into their potential in agriculture, manufacturing development and connectivity, he said.
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