Kazakhstan turns to high-value added manufacturing with building polyethylene plant it Atyrau region
Kazakhstan turns to high-value added manufacturing with building polyethylene plant it Atyrau regionChina, Myanmar to sign agreements
President Xi Jinping's scheduled state visit to Myanmar this week will deepen the two Asian economies' ties in such sectors as seafood exports, energy, basic infrastructure, finance and other labor-intensive industries, serving as drivers to fuel Myanmar's economic development, business representatives and industry observers said.
President Xi Jinping's scheduled state visit to Myanmar this week will deepen the two Asian economies' ties in such sectors as seafood exports, energy, basic infrastructure, finance and other labor-intensive industries, serving as drivers to fuel Myanmar's economic development, business representatives and industry observers said.
Xi will make the visit to Myanmar from Friday to Saturday at the invitation of Myanmar President U Win Myint, China's Foreign Ministry announced. It will be Xi's first state visit of 2020 and also the first state visit to Myanmar by a Chinese president in 19 years.
As China and Myanmar's economies are complementary, the long-awaited state visit will stimulate the two countries to take a new step toward further economic cooperation, Chinese observers said.
Under the Belt and Road Initiative (BRI) and the advance of the China-Myanmar Economic Corridor (CMEC), "No matter how Myanmar's internal situation changes, Chinese firms remain the top investors in Myanmar in terms of cumulative foreign direct investment," Liu Yin, chairman of the Myanmar-China Entrepreneur Association, told the Global Times.
Chinese landmark projects under the BRI include the China-Myanmar oil and gas pipeline, which allows China to import crude from the Middle East without passing through the Malacca Strait, as well as the Letpadaung Copper Mine, a mutually beneficial project jointly built by companies from China and Myanmar.
As a number of BRI infrastructure projects that boost connectivity are in full swing, trade between China and Myanmar will see a new increase this year, according to Liu.
He said that seafood exports may be the next growth point for bilateral trade.
With a 2,000-kilometer coastline, Myanmar's aquaculture industry is growing very fast. If its infrastructure improves and transportation times are reduced, more seafood products such as fish and shrimp will be sent to China," Liu said.
In the first nine months of 2019, bilateral trade grew 17.9 percent year-on-year to $13.54 billion, according to data from China's Ministry of Commerce. China mainly exports industrial products to Myanmar, while Myanmar ships natural gas, oil, rice, soybeans, meat and fruits to China.
Gu Xiaosong, an expert on Southeast Asian studies at the Guangxi Academy of Social Sciences, suggested that China and Myanmar could also cooperate more in processing industries, such as the processing of agricultural products.
With vast cheap land, Myanmar is looking to develop its processing industries to boost its economy. At the same time, many Chinese companies are thinking of moving their manufacturing to Southeast Asian countries," Gu told the Global Times on Monday, January 13. "Why not choose Myanmar as a destination along with their past choices like Vietnam?"
Analysts said that a flourishing relationship involving the BRI and CMEC will be a game changer, helping Myanmar fully leverage its geographic advantage and population dividends. "In such a way, the nation could speed up its economic development and improve living standards," Liu noted.
Khin Maung Lynn, joint secretary of the Myanmar Institute of Strategic and International Studies, told the Global Times that the BRI may even pave the way toward peaceful settlements of disputes and help solve internal conflicts in Myanmar.
Myanmar is now one of the poorest countries in Asia. Last year, its GDP stood at $71.21 billion, which compared with GDP of 1.79 trillion yuan ($259.35 billion) in bordering Southwest China's Yunnan Province.
Being the most southwestern province in China, Yunnan has an area of 394,100 square kilometers and a population of about 46 million. Myanmar is the largest of the mainland Southeast Asian states by area, with an area of 676,578 square kilometers and a population of about 54 million.
But giving the full picture of the benefits of BRI projects to local people remains a challenge, industry insiders warned.
Some locals could be easily misled by the so-called debt trap or China Threat created by some Westerners and non-governmental organizations. Facilitating mutual understanding is an urgent task for us," Liu said.
Source: Global Times
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
relevant news
Parliament of Canada is Interested in Further Deepening Cooperation with Kazakhstan
Images | Kazakh MFA
The annual general meeting of the Kazakhstan-Canada Parliamentary Friendship Group held in the Parliament of Canada, press service of the Kazakh MFA reports.
At the beginning of the event, members of the Canadian Parliament expressed their support to Kazakhstan in connection with major floods in a number of regions of the country, praising the actions of the Kazakh authorities in the fight against the natural disaster and its consequences.
Canadian parliamentarians also supported the policy of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to carry out large-scale democratic reforms, including in the field of human rights protection and ensuring the principles of the rule of law. In this context, the legislators welcomed the adoption on April 15 this year of a package of laws aimed at toughening penalties in the field of domestic violence.
Special attention during the meeting was paid to the development of Kazakh-Canadian relations, as well as parliamentary ties between the two countries. Canadian parliamentarians expressed their readiness to provide comprehensive assistance in promoting bilateral cooperation, including in the field of agriculture, energy, transportation and logistics, digital technologies and education.
Following the event, the two sides agreed to organize a visit of the Canadian parliamentary delegation to Kazakhstan in 2024.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
Kazakhstan Took Part in the 2nd Ministerial Meeting on Strategic Dialogue "Central Asia - Gulf Cooperation Council"
Images | Kazakh MFA
The 2nd Ministerial Meeting on Strategic Dialogue "Central Asia - Gulf Cooperation Council (GCC)" took place in Tashkent, press service of the Kazakh MFA reports.
Kazakhstan delegation was headed by Alibek Bakayev, the Deputy Minister of Foreign Affairs of the Republic of Kazakhstan.
During the event, the countries of Central Asia and GCC discussed the state and prospects of interregional cooperation, as well as current issues of the international agenda.
Kazakh diplomat, in his statement noted the huge potential of this dialogue platform and made specific proposals for increasing cooperation in the trade, economic, cultural, humanitarian, scientific and technological fields.
In this context, Alibek Bakayev emphasized the importance of strengthening trade relations between the two regions and invited the Gulf States to take an active part in the implementation of joint investment projects in Kazakhstan and other Central Asian countries.
In addition, the head of the Kazakh delegation voiced Kazakh initiatives such as expansion of the activities of the Islamic Organization for Food Security and use of the potential of the International Technopark of IT startups "Astana Hub" and organizing of the 5th World Nomad Games in Kazakhstan in September this year.
Concluding the meeting parties adopted Joint Statement, which aimed at strengthening comprehensive cooperation in key areas between the two regions.
It is worth mentioning that the "Central Asia - GCC" dialogue platform was launched in 2022. The First Ministerial Meeting took place in September 2022 in Riyadh, the capital of Saudi Arabia, while the First Summit of this platform was held in July 2023 in Jeddah, with participation of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
Strengthening Cooperation between Kazakhstan and South Africa Discussed at MFA
Images | Kazakh MFA
Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Alibek Bakayev met with Ambassador Extraordinary and Plenipotentiary of South Africa to the Republic of Kazakhstan Kiitumetzi Siipilo Tandeka Matthews, press service of the Kazakh MFA reports.
During the meeting, the parties discussed the current state and prospects for the development of bilateral cooperation in the political, trade, economic, investment, cultural and humanitarian spheres.
Alibek Bakaev underscored the significance of advancing Kazakh-South African relations amidst the increasing role of the African continent on the global affairs.
South African Ambassador Matthews expressed confidence in the continued enhancement of mutually beneficial collaboration between Astana and Pretoria.
Both parties delineated plans to broaden comprehensive cooperation and reviewed the schedule of forthcoming visits and events at the high and highest levels.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.