New trade zone to be built on China border
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A new trade zone will be built in Wantein on the Myanmar-China border because the trade zone in Muse is packed with in and outgoing cars, the Ministry of Commerce has said.
Dr Maung Aung, an adviser for the ministry, said: “We need to establish a new trade zone near the Myanmar-China border as the border is teeming with cargo-loaded cars.
“So, we are planning to build a new border trade zone near Wantein. People usually use the Muse border trade zone for security reasons even though there are many other border trade zones. Another reason is that Muse has better roads compared to others. That’s why the majority of drivers use the Muse route.”
Currently, there are four trade zones along the Myanmar-China border - in Muse, Lweljel, Chinshwehal and Kanpitetee. But people mostly use the Muse route.
China is also building a trade zone in Ruili, as the volume of border trade has risen there.
“China is setting up a big border trade zone on its side. It also includes many facilities such as cold-storage factories,” Dr Maung Aung said.
The China-Myanmar border enjoys more trade rather than other borders. Illegal trade is also rampant on the China border trade zones, partly because the border is very long.
According to Xinhua news agency, Myanmar is implementing a special economic zone in Muse, in northern Shan State, which shares a border with Yunnan, to promote border trade.
Local authorities gave the green light for the special economic zone early last year. The project is expected to be completed by 2017.
According to the figures, China-Myanmar trade reached US$6.619 billion in 2013. In addition, Chinese investment in 65 projects in Myanmar amounted to US$14.251 billion until June this year, accounting for 30 percent of Myanmar’s total foreign investment.
