"Along the Bay of Bengal on the west tip of Myanmar, the town of Kyaukpyu in Rakhine State sits tranquilly on a 25-meter deep harbor. This deep-sea port, surrounded by superb natural conditions, could be developed into another demonstration project under the framework of the Belt and Road Initiative (BRI), mutually benefiting both Myanmar and China. During Chinese President Xi Jinping's state visit to Myanmar on Jan. 17-18, the two sides agreed to strengthen their BRI cooperation, and work hard to push forward the construction of the Kyaukpyu Special Economic Zone (SEZ), according to a joint statement issued by the two countries on Saturday. Master plan In 2014, the Myanmar government invited bidders from around the world for its plan to set up the Kyaukpyu SEZ, one of the country's three national SEZs, in an effort to kick-start the local economy and raise living standards. The master plan includes a deep-sea port and an accompanying industrial park nearby. In 2015, a consortium of six companies led by the China International Trust and Investment Corporation (CITIC) won the tender for building the Kyaukpyu SEZ. Three years later, after a marathon of negotiations, the CITIC-led consortium struck a framework agreement with Myanmar on the project..."