Myanmar To Enjoy Investments from Japan, access to Trade Area Under RCEP

Myanmar Japan Investment Dialogue happened on July 29th. At it Japan and Myanmar officials discussed more plans for coordination. A week prior to the meeting, Myanmar issued a notice to a Japanese consortium to begin a 1250-megawatt liquified natural gas plant worth over $2 billion USD in the Thilawa Special Economic Zone.

Since COVID-19 Japan has signed three MOU’s worth $20 Million USD. These include the Rehabilitation of Vessel Traffic Navigation Aid on the Yangon River, a provision of a water treatment facility, and equipment to the Myanmar Police Force.

Separately Myanmar is planning to participate in the Regional Comprehensive Economic Partnership (RCEP). The RCEP is a proposed free trade agreement (FTA) with ten member states of the Indo-Pacific Region. These states include, Brunei, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, Vietnam, and Myanmar. There partner in this FTA would be Australia, China, Japan, New Zealand, and South Korea.

Source: mmtimes

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