Strengthening Economic, Trade Cooperation between China, Myanmar | Insights

Chongqing - On November 23, 2023, the Sichuan-Chongqing Region of China and Mekong Countries Sub-National Cooperation Forum 2023 successfully convened in Chongqing. U Min Min, Deputy Minister of Myanmar's Ministry of Commerce, was interviewed and gave a significant speech at the forum.

U Min Min, Deputy Minister of Myanmar's Ministry of Commerce (Photo/Yue Xingchen)

In the interview, U Min Min initially extended his congratulations on the inauguration of the New International Land-Sea Trade Corridor's cross-border road-rail inter-modal trains (Chongqing-Ruili-Myanmar). He highlighted this as establishing Myanmar's first provincial railway station at the Dehong port. He pointed out that this railway, compared to traditional land-sea transport, offers a time saving of over 20 days, thus opening up new prospects for the collaborative development of the China-Myanmar economic corridor. He emphasized that this marks the first instance of a Chinese provincial railway extending into Myanmar, signifying a major stride in the expansion of China's new land-sea channel, which currently integrates over 190 ports.

He acknowledged the economic accomplishments of both China and Myanmar, expressing optimism about future bilateral cooperation. U Min Min specifically cited the progress of the Chengdu-Chongqing economic circle, which he believes will enhance China's capacity for further opening up and development. This progress, he noted, holds considerable importance for Myanmar, paving the way for increased economic and trade collaboration between the two nations.

Furthermore, he highlighted the July 2022 opening of the Consulate-General of the Republic of the Union of Myanmar in Chongqing, the first such Myanmar consulate in China. This development symbolizes Myanmar's strides in opening up economic and trade development and its commitment to reinforcing connections with Western China.

In his address at the conference, U Min Min underscored the forum's significance, expressing his belief that it would greatly benefit the Mekong sub-region countries and hasten the development of both the Chengdu-Chongqing economic circle and the New International Land-Sea Trade Corridor. He expressed his hope that the forum would catalyze the enhancement of business investment and foster trade development between the Mekong sub-region countries and the Sichuan-Chongqing region.

He also addressed the global trade environment's challenges, specifically highlighting the impact of rising commodity prices on the global supply chain. Despite these challenges, he maintained an optimistic outlook on the trade prospects for the countries within the Mekong sub-region.

U Min Min also emphasized the significance of the digital economy, asserting that digital transformation and the development of the digital economy are vital for Myanmar. He noted that in recent years, the Myanmar government has enacted various initiatives to drive digital transformation, integrating it as a key component of the country's sustainable development strategy.

Lastly, he highlighted the enduring friendly relations between China and the Mekong sub-region countries, articulating Myanmar's eagerness to collaborate with China and its neighbors in the sub-region to enhance regional cooperation. He expressed confidence that with deeper collaboration, Myanmar, China, and the Mekong sub-region countries will collectively contribute to the greater welfare of the people in the Mekong sub-region.

This conversation with U Min Min underscores his focus on strengthening economic and trade cooperation between China, Myanmar, and the Mekong sub-region countries and his optimistic view of future collaborative opportunities.