China and Myanmar reach cross-border power transmission cooperation(YTTX It will help the export of power cables and the goods arrive in Myanmar)

August 2, 2022
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China and Myanmar reach cross-border power transmission cooperation

 

YTTX It will help the export of power cables and the goods arrive in Myanmar

 

Maung Maung Weng, Minister of Information of Myanmar, and Aung Nai Ou, Minister of Investment and Foreign Economic Relations of Myanmar, said in an interview with reporters recently that China and Myanmar reached a consensus not long ago. The two countries are willing to solve this problem through cross-border power grid cooperation. Myanmar already has plans to cooperate with China in cross-border power transmission, which is also part of the China-Myanmar Economic Corridor plan. According to this plan, Myanmar will introduce about 1,200 megawatts of electricity from neighboring countries such as China and Laos, which will be implemented soon. Myanmar will also carry out fiscal and taxation reforms in a timely manner, with tax cuts and profits to support the resumption of work and production by enterprises. Myanmar is ready to work with China to resume the construction of the China-Myanmar Economic Corridor projects at any time. Once these projects resume construction, they will bring huge employment opportunities to the local people in Myanmar, and all aspects will benefit.

 

China is Myanmar's largest trading partner. Although the trade volume between the two countries has declined due to the new crown pneumonia epidemic, the trade between the two countries is highly complementary. The combination of the new crown epidemic and the crisis in Ukraine has caused great uncertainty in the prospects of energy and food supply in the international market. Myanmar has advantages in oil and gas resources and food resources, and China is strong in manufacturing technology and investment funds. The cooperation between the two countries has bright prospects. . At present, RMB is still limited to border trade in trade settlement methods. The second step will expand this settlement method to all bilateral trade. The third step will also use RMB for settlement in the field of Chinese investment in Myanmar to provide maximum convenience.