Work on establishing an economic cooperation zone along the Myanmar-China border has started with the priority given to the Muse (Myanmar)-Ruili (China) section, the official Global New Light of Myanmar reported on Tuesday.
Construction will start first on the Muse-Ruili section with the two sides erecting fences respectively, said Deputy Minister of Commerce U Aung Htoo, who is also secretary of the Central Committee to Implement the Myanmar-China Border Economic Cooperation Zone.
Government officials from the two sides will continue to hold discussions on the establishment at a border trade expo due to take place in Muse in mid-December with business-to-business talks to be conducted, the newspaper quoted an official of the Commerce Ministry as saying.
The border economic cooperation zone is expected to promote domestic and foreign investment, create business opportunities and jobs, help small- and medium-sized enterprises to grow, develop manufacturing power and improve bilateral trade.
The economic cooperation zone plan is also part of the China-proposed Belt and Road Initiative to establish a Myanmar-China economic corridor.
Myanmar and China signed a memorandum of understanding on the set-up of the economic cooperation zone in May 2017.
Courtesy Global Times