Home Insider Insider News China Proposes New Economic Corridor to Enhance Bilateral Cooperation

China Proposes New Economic Corridor to Enhance Bilateral Cooperation

China has offered a suggestion to Myanmar to construct a new economic corridor between the two neighbours so as to further boost bilateral cooperation, according to Chinese Foreign Minister Wang Yi on November 19.

The Chinese FM revealed the proposal during his visit to Myanmar to attend the Foreign Ministerial Meeting of ASEM, an Asia-Europe political forum aiming to promote relations and various forms of cooperation among 53 partner countries.

As a further move to enhance ChinaMyanmar comprehensive strategic cooperative partnership, China has proposed the new China-Myanmar economic corridor in order to form a large cooperation pattern between the two countries.

The proposed corridor starts from China’s Yunnan Province and go down south to the central Myanmar city of Mandalay to continuously extend south to the country’s largest city of Yangon and west to Kyaukphyu in Rakhine state where China’s special economic zone lies, forming a three-pillar giant cooperation pattern.

The plan is apparently China’s further effort in a series of its activities in Myanmar to reinforce the imple*mentation of its ambitious Belt and Road Initiative.

Myanmar’s strategic location offers a sea gateway to China to access the Bay of Bengal, allowing the big neighbour to find a crucial maritime path in the realisation of China’s trade and development aspirations under the One Belt, One Road programme.