Union Minister of the Union Government Office 1 U Aung Naing Oo attended a Seminar on Belt and Road Cooperation held at the Wyndham Grand Yangon Hotel in Yangon and delivered a speech yesterday.
In his speech, the Union minister said that the Belt and Road Initiative is not just about building roads and connections; it is a symbol of quality, unity, and shared progress. The goal of this strategy is to foster mutual respect, understanding, and trust among different nations. China is not only a friendly neighbour to Myanmar, but it is also the country’s biggest trading partner.
The yearly trade between Myanmar and China makes up more than 30 per cent of Myanmar’s total foreign trade. Our bilateral trade, investment, and multi-sector cooperation have been flourishing due to very friendly relations between the two governments (G to G), the friendship between the business communities (B to B), and the friendship between the people of the two countries (P to P).
A significant noteworthy collaboration is the Kyaukphyu Special Economic Zone, where Myanmar’s future development potential will be realized in cooperation with China’s investment. With an expansive coastline embracing the Bay of Bengal and the Andaman Sea, Myanmar assumes a pivotal role in the BRI’s maritime initiatives through China Myanmar Economic Corridor (CMEC). The optimization of sea routes not only ensures faster and more cost-effective transport of goods but also stands to amplify trade activities, providing a boost to local businesses and fostering economic growth.
Moreover, the development of ports and associated infrastructure generates employment opportunities for local communities, contributing significantly to poverty reduction and an overarching improvement in living standards. Improved air connectivity fosters people-to-people exchanges, nurturing cultural understanding and collaboration, and enriching the local cultural experience.
Upgrading the existing railways and the construction of new railways such as Muse-Mandalay and Mandalay Kyaukphyu Railway for High-Speed Trains increases the efficiency of domestic goods transport, potentially reducing costs and enhancing the competitiveness of local industries. Myanmar is committed to implementing any projects under the BRI which are beneficial for the State and the People of our country. In this seminar, Mr Chen Hai, Ambassador of the Embassy of the People’s Republic of China in the Republic of the Union of Myanmar, attended. — MNA
