Myanmar and China has reached an agreement to establish border economic cooperation zones along border trade areas under Myanmar-China Economic Corridor as part of One Belt One Road Initiative (OBOR), said Union Minister for Commerce Dr Than Myint.
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. So, systematic measures are being taken to establish those zones under the instruction of the government, he added.
He said Muse (105th mile) Trade Zone is the largest border trade zone with most trade activities in Myanmar. It serves as the most important trade cooperation between China and Myanmar, he said.
Recently, Union Minister for Commerce Dr Than Myint, also the 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.
During a Chinese delegation’s 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 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.