Posted inBusiness Report /

China moots economic corridor with Myanmar for easy access to Indian Ocean

The proposal will further develop China-Myanmar cooperation under the Belt and Road initiative.

China has proposed to build an economic corridor with Myanmar to enhance trade investments, which Chinese experts say would allow access to the Indian Ocean for the country.

Chinese Foreign Minister Wang Yi who visited Myanmar made the proposal yesterday.

The proposed corridor is regarded significant as the BCIM (Bangladesh, China, India, Myanmar) Economic Corridor initiated by China as part of its Belt and Road Initiative (BRI) has struggled to make progress.

The direct economic corridor, which would help Myanmar’s development plan and needs, will start in China’s Yunnan Province, extend to the central Myanmar city of Mandalay and then east to Yangon and west to the Kyaukpyu special economic zone, forming a three-pillar giant cooperation pattern, Wang said.

The proposal will further develop China-Myanmar cooperation under the Belt and Road initiative.

Read more at: The Economic Times