Three sites chosen for Myanmar-China border economic zones to be officially announced

Writer: 
Nilar

Three potential sites chosen for the establishment of Myanmar-China border economic zones will be officially announced after a step-by-step assessment, and the proposal has also been submitted to all concerned states chief ministers, said Yan Naing Tun, director general of the Trade Department under the Ministry of Commerce.

Recently, Union Minister for Commerce Dr Than Myint, also chairman of the central committee for the zone establishment, said Kampaikti region in Kachin State and Muse and Chinshwehaw regions in Shan State would be earmarked for establishing China-Myanmar border economic cooperation zones.

"We will make officials announcements. Myanmar's border with China is Kampaikti in Kachin State. Others are Muse and Chinshwehaw (bordering China). These three sites have been proposed. The proposal has been sent to the chief ministers for further procedures," said Yan Naing Tun.

During Chinese visit to the 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 that 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.

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 border economic cooperation zones between China and Myanmar is part of the One Belt One Road Initiative as well as Myanmar-China Economic Corridor.