Kampaikti region in Kachin State and Muse and Chinshwehaw regions in Shan State will be tentatively chosen for establishing China-Myanmar border economic cooperation zones, said Union Minister for Commerce Dr Than Myint, also chairman of the central committee for the zone establishment.
The One Belt One Road Initiative China is implementing is a project creating economic links between China and global countries. China is also implementing the 21st Century Silk Road project. The construction of economic cooperation zones between China and Myanmar is part of the One Belt One Road Initiative as well as Myanmar-China Economic Corridor.
During the China visit of State Counsellor Aung San Suu Kyi in August 2016, agreement was reached to build border economic cooperation zones. According to the agreement, a memorandum of understanding was signed in May last year.
The minister said the establishment of border economic zones would help promote local and foreign investments, create business opportunities in the region and job opportunities for local people. It could also help develop SMEs and improve production capacity, thus promoting bilateral trade, the minister added.
During a briefing on the establishment of border economic cooperation zones between China and Myanmar, Central Committee chairman and Deputy Commerce Minister Aung Htoo and secretary and Trade Department director general Yan Naing Tun explained matters related to zone construction, procedures on the construction of China-Laos and China Kyrgyzstan border economic cooperation zones and other relevant issues.