China and Myanmar will promote bilateral border trade by developing an economic cooperation zone, said U Toe Aung Myint, the permanent secretary of the Commerce Ministry.
“We have agreed to implement a bilateral border economic cooperation zone.
There are still matters we continue to discuss in detail. This zone will be built in Yunnan province, China”, U Toe Aung Myint said. After developing a border economic cooperation zone, Myanmar will manufacture value-added products, he said.
Businessmen from the two countries will come to establish industrial production enterprises, he continued.
Last year, trade between Myanmar and Yunnan Province fetched US$6.1 billion, comprised of exports worth $3.6 billion and imports worth $2.5 billion, according to the Commerce Ministry.
Yunnan businessmen primarily invest in hydropower generation and the mining and agriculture sectors. They have invested $10 billion so far as of June.
Myanmar entrepreneurs have put investments of $100 million in the real estate sector, industrial enterprises and hotel businesses this year.