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  • "Myanmar" supports good-neighborly economic and trade cooperation for RCEP

"Myanmar" supports good-neighborly economic and trade cooperation for RCEP


On May 1, the Regional Comprehensive Economic Partnership (RCEP) came into effect between China and Myanmar. It is foreseeable that the implementation of the RCEP between China and Myanmar will more effectively promote the development of trade and investment in Myanmar, and support Myanmar's economic recovery from the impact of the new crown pneumonia epidemic as soon as possible.

Regional economic and trade cooperation is more pragmatic. Although the new crown pneumonia epidemic has had a certain impact on the economic and trade exchanges between the two countries, China-Myanmar economy and trade are still developing steadily and pragmatically. From January to April, the bilateral trade volume between China and Myanmar was US$7.389 billion. In February this year, Myanmar corn gained market access to China, which further broadened the categories of Myanmar agricultural products exported to China, and also helped Myanmar to expand the scale of its exports to China. Since May 1, RCEP has come into effect between China and Myanmar. China has given preferential treaty tax rates to goods imported from Myanmar that are subject to the standard of origin in the agreement, and enterprises engaged in Sino-Myanmar trade have also enjoyed new preferential treatment since then.

Connectivity achieves mutual benefit and win-win results. On May 23, the China-Myanmar New Corridor (Chongqing-Lincang-Myanmar) international railway train successfully launched at the Guoyuan Port National Logistics Hub in Liangjiang New Area, Chongqing, and will arrive in Mandalay, Myanmar 15 days later. The opening and operation of the train will strengthen the economic and trade cooperation and mutual benefit between western China, Myanmar and the Indian Ocean Rim region, especially the interconnection among RCEP member countries.

Infrastructure cooperation promotes economic and trade exchanges. The reporter learned that Myanmar will import 1,200 megawatts of electricity from neighboring countries such as China and Laos. According to Aung Nai Ou, Minister of Investment and Foreign Economic Relations of Myanmar, Myanmar already has plans to cooperate with China in cross-border power transmission, which is also part of the China-Myanmar Economic Corridor plan. On May 13, Myanmar's first 100-megawatt photovoltaic project group invested and constructed by China Power Construction entered the construction phase. After the project is completed, it will be directly integrated into Myanmar's national grid, which can effectively improve the current situation of power shortage in Myanmar, play an important role in promoting local economic development, and further deepen the economic and trade cooperation and friendship between China and Myanmar.

The anti-epidemic cooperation demonstrates Paukphaw's deep love. Since the outbreak of COVID-19, China and Myanmar have continued to carry out strong and effective anti-epidemic cooperation. On March 23, the China-Myanmar cooperation new crown vaccine was officially put into production in Yangon, which is crucial to Myanmar's universal vaccine coverage and subsequent booster vaccinations. On May 29, the Chinese government assisted Myanmar with 10 million doses of Sinopharm's new crown vaccine, 13 million vaccine syringes and two mobile nucleic acid testing vehicles. Vaccine assistance and assistance is an important aspect of China-Myanmar epidemic prevention and control cooperation, which demonstrates the China-Myanmar Paukphaw friendship and the spirit of a community of shared future.

It is believed that with the entry into force of RCEP between China and Myanmar and its wider implementation in the future, exchanges and cooperation between China and Myanmar and other friendly neighbors in Southeast Asia will continue to advance in various fields. China and Myanmar will also continue to expand regional economic and trade cooperation and deepen Two-way cooperation between investment and trade in services.

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