Myanmar businessmen speak highly of China-ASEAN FTA establishmentMar 10, 2010 |
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| "YANGON, Dec. 31 (Xinhua) -- Myanmar business circle has spoken highly of the establishment of China-ASEAN free trade area (FTA) as scheduled, saying that the establishment helps push the development of economic and trade cooperative ties between Myanmar and China. Members from the business circle made the comments in an interview with Xinhua ahead of the launching of the FTA on Jan. 1, 2010. Starting 2010, both the building of ASEAN Community and China-ASEAN FTA will enter into a new stage. Therefore, Myanmar, like other new members of the Association of the Southeast Asian Nations (ASEAN), will face a new and greater challenge and new development opportunity, experts said. U Khin Maung Lwin, a Myanmar expert studying FTA, said despite the establishment of the China-ASEAN FTA in 2010, Myanmar enjoys a five-year grace period like other ASEAN new members and is allowed to meet the FTA demand until 2015, leaving a period of time and space for the country to deal with. Experts here said under the framework of the FTA, Myanmar possesses an advantage of having rich natural resources such as land, water and mineral resources, while its disadvantage is the lack of capital and technical know-how and then a long period of exporting primary products with less process and low added-value. The country has now attached importance to such processed and value-added export, while welcoming foreign investment in the aspect. Chairman of Myanmar Chinese Chamber of Commerce Lai Songshen pointed out that the establishment of China-ASEAN FTA has positive significance over Myanmar's economic and trade development, saying that Myanmar's integration into the regional development process could enable faster and better development of its economy and trade. " |
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