China Calls for Giant Trade Zone at Muse

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China has urgently proposed a Shweli-Muse border economic cooperation zone to promote trade, reported the Ministry of Commerce.

Construction plans would be made and aims and objectives quickly established, it said.

The ministry had agreed to the plan, assistant secretary Khin Maung Lwin of the Ministry of Commerce said. “Both sides submitted proposals to form organisations. The proposals have not been passed yet and the exact site has not been chosen.”

A financial transfer and regular trade system would have to be established, he said.

There are exports of US$2.5 billion and imports of US$1.2 billion at Muse until January 20 this fiscal year, according to the Ministry of Commerce.

There are also the Lwejel, Kanpaikte and Chinshwehaw trade camps on the Chinese border.

Until January 20 this fiscal year, foreign trade was US$21.6 billion, up US$44 million from last year.

 

Source: Eleven Myanmar
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