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Work Begins on New Myanmar-China Economic Zone

N e g o t i a t i o n s t o construct a Chinese e c o n o m i c z o n e t o p r o m o t e M y a n m a r manufacturing and tourism are underway, said Yan Naing Tun, Director General of the Department of Trade under the Ministry of Commerce.

“Our Head of State signed an agreement on the establishment of a bilateral border trade cooperation zone during a visit to China in May last year. Under the agreement, we studied potential sites,” said Yan Naing Tun.

As China is Myanmar’s largest border trade partner, the economic zone will result in promoting domestic products and creating many employment opportunities for Myanmar people. The economic zone is also intended to increase exports across the border, reducing the country’s trade defcit. Yan Naing Tun added, “Once complete, our people will have opportunities to fnd work across the border. Goods manufactured in Myanmar can be easily and legally transported to China. Tourists from China will be able to visit Myanmar. The economic zone will beneft both countries.” O f f i c i a l s f r o m D i r e c t o r a t e o f I n v e s t m e n t a n d C o m p a n i e s Administration said l o c a l a n d f o r e i g n i n v e s t o r s w i l l b e allowed to establish i n f r a s t r u c t u r e s , industrial, residential and agricultural zones in the China-Myanmar economic cooperation zone.