Trade and Investment : Myanmar-China Economic Cooperation Promotion Meeting

Second Myanmar-China Economic Cooperation Promotion Meeting was held in Chengdu of Sichuan Province on Saturday.

Acting President and Chairman of State Security and Peace Commission Senior General Min Aung Hlaing attended the meeting and delivered a speech, emphasizing the crucial role of peace and stability in the border areas, as well as the importance of improved infrastructure and transportation for bilateral trade and social development, as the two countries share a border of over 1,300 miles.

He said out of eight border gates along the two borders, only Muse-Shweli Gate is under operation due to the armed insurgent groups, damaging the bilateral border trade including the businesses from Yunnan and Sichuan Provinces and Chongqing Municipality area.

He outlined the plans for extended export of value-added products, upgrading transportation facilities and inviting investment while prioritizing for achieving peace and security in border areas. He added that plans have been made for signing the MOU on cooperation between Sichaun Province and Mandalay Region as well as the establishment of Sister City between Chengdu and Yangon as both cities serves as the economic hub.

In addition, negoations are underway for re-operation of the Yangon-Chengdu airlines that has been suspended since COVID-19 period. He mentioned the opportunities for investors in Myanmar with the favourable benefits and tax exemption as well as the direct investment of Chinese investors in Myanmar.

He extended invitations to make investment in Myanmar, promising better cooperation for the future. The attendee officials from Yunnan and Sichuan Provinces and Chongqing Municipality area and Hunan Province expressed thier interest in earthquake restoration works and solar-powered electricity generation.

They also inquired for export/ import policies of Myanmar, protection measures for investors, easing import license process. The Union Ministers explained the rules and regulations for investments, tender process and convenient arrangements for the investors in Myanmar. The Acting President also pledged to implement Yuan-kyat direct payment for better process in trading between the two countries.