Myanmar and China agree to speed projects but ink no new deals

Description: 

"China and Myanmar inked dozens of deals on Saturday to speed up infrastructure projects as Beijing seeks to cement its hold over a neighbor increasingly isolated by the West. But no major new projects were agreed on during the two-day visit by President Xi Jinping, the first of any Chinese leader in 19 years. Analysts said Myanmar is generally cautious of investments by Beijing and is also being careful ahead of elections later this year. Still, Xi and Myanmar leader Aung San Suu Kyi signed 33 agreements shoring up key projects that are part of the flagship Belt and Road initiative, China’s vision of new trade routes described as a “21st-century Silk Road.” They agreed to hasten implementation of the China Myanmar Economic Corridor, a giant infrastructure scheme worth billions of dollars, with agreements on railways linking southwestern China to the Indian Ocean, a deep sea-port in conflict-riven Rakhine state, a special economic zone on the border, and a new city project in the commercial capital of Yangon. They did not address a controversial $3.6 billion Beijing-backed mega-dam, where work has been stalled since 2011, reflecting the contentiousness of Chinese investment in Myanmar, where many are uncomfortable with the sway Beijing has over its smaller neighbor..."

Source/publisher: 

"Reuters" (UK) via "Japan Times" (Japan)

Date of Publication: 

2020-01-18

Date of entry: 

2020-01-20

Grouping: 

  • Individual Documents

Category: 

Countries: 

Myanmar, China

Language: 

English

Resource Type: 

text

Text quality: 

    • Good