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China Daily / 2020-01 / 15 / Page009

Xi's visit will chart new course for ties with Myanmar

By Jia Duqiang | China Daily | Updated: 2020-01-15 00:00

As traditional friendly neighbors, China and Myanmar are already engaged in mutually beneficial trade and economic relations, and President Xi Jinping's two-day visit to Myanmar from Friday will deepen this engagement and further promote cooperation between the two sides.

Thanks to the vitality of bilateral trade, win-win cooperation between China and Myanmar has been progressing well. Since Myanmar is rich in natural resources and urgently needs infrastructure facilities, Chinese investment has grown rapidly in Myanmar, making China the largest trading partner and the biggest source of investment for Myanmar. By the end of November, 415 Chinese enterprises had earned approval for investing in Myanmar, up from 280 in 2018.

The fact that Chinese enterprises have huge experience and expertise in fields such as agriculture, industry, infrastructure, transportation and power generation will help them meet Myanmar's development needs, and create opportunities for cooperation and investment. In fact, from January to September 2019, Chinese companies signed new projects worth $4.77 billion in Myanmar, an increase of 238 percent year-on-year.

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