A prime time: Initiate trilateral economic cooperation

MYANMAR is a country that shares borders with populous nations such as China, India, and Bangladesh, making it a nation with significant opportunities for trade activities. In addition, Myanmar is strategically located at the crossroads of South Asia, Southeast Asia, and China.

Geographically, it occupies a favourable position, serving as a junction in regional connectivity and providing a potential outlet to the Indian Ocean for China. Therefore, Myanmar holds considerable prospects for transportation and infrastructure investment. Myan­mar, which is one of the largest land-based countries in Southeast Asia and, from a geopolitical perspective, is a strategically important nation. Moreover, as part of both the Asian Highway and the Trans- Asian Railway networks, Myanmar holds a significant role within the economic sphere of the Belt and Road Initiative.

Myanmar is actively par­ticipating in the Belt and Road Initiative (BRI) led by China. Within this framework, there are six international econom­ic corridors, and Myanmar is engaged in both the Bangla­desh-China-India-Myanmar (BCIM) Economic Corridor, which utilizes both land and maritime routes and the Chi­na-Indochina Peninsula Eco­nomic Corridor.

As part of the BRI, the China-Myanmar Economic Corridor (CMEC) has been es­tablished to facilitate smoother trade and investment, as well as to set up special economic cooperation zones in border areas. Through CMEC, efforts are also being made to imple­ment six major projects aimed at accelerating economic co­operation between China and Myanmar.

Under the China-My­anmar Economic Corridor (CMEC), China is implement­ing the Kyaukpyu Deep-Sea Port project, the China-Myanmar Railway project, and the China-Myanmar Cross-Border Power Transmission Line project, among others. In this regard, the Chi­na-Myanmar Railway project is considered particularly important, as it is expected to bring significant benefits to border trade between the two countries. If these railway projects are successfully implement­ed and trade activities expand, Myanmar will also gain promising opportunities to conduct trade with the Russian Federation, with which China and Myanmar maintain good relations.

Hence, now is the prime time for Myanmar, Russia and China to join hands in operating businesses with investments in order to ensure betterment of their relationship and strategic cooperation. Myanmar has opened its consulates general in major cities of Chi­na and Russia to help businesspeople from both countries ensure smooth processes. If Myanmar, China, and Russia cooperate to expand trade among the three countries, it could create significant opportunities to increase regional goods flow and greatly support the movement of commodities within the region, as Myanmar has opened consulates general in major cities of both Russia and China.