Myanmar implements economic zone in border town with China

7.-border-trade-pic

Myanmar is implementing a new central economic zone in Muse, aborder town in northern Shan state linking China’s Ruili of Yunnan province, to boostborder trade at the most important crossing between the two countries, according to theproject official saying on Tuesday.

The new Muse Central Economic Zone, being established on over 120 hectares of land at acost of 51.54 million U.S. dollars, comprises 18 estates including jade trading facilities,markets, shops, hotels, restaurants and housing complexes, said the official.

The plan of setting up of the Muse central economic zone was approved by localauthorities in early 2013 and it was targeted to be completed in 2007.

Myanmar’s border trade with China is being mainly done through Muse, Lweje,Chinshwehaw and Kan Pite Tee.

Muse stands as the highest border trade transaction between Myanmar and China,reaching over 3 billion U.S. dollars in the fiscal year 2013-14, accounting for over 60percent of Myanmar’s total border trade.

According to Myanmar official statistics, the total value of China-Myanmar bilateral tradeis 6.619 billion U.S. dollars in 2013, accounting for 28.4 percent of Myanmar’s total foreigntrade value which was 23.29 billion U.S. dollars during the year.

Figures also show that China’s investment in Myanmar has reached 14.251 billion U.S.dollars in 65 projects as of June 2014, accounting for 30.5 percent of the total and ranking the first in Myanmar’s foreign investment line-up.

 

 

 

Source : China Daily | August 19, 2014

Thomas D’Innocenzi

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About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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