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NANNING, Guangxi: Officials from Myanmar are keen to promote the country as an ideal investment destination at the 6th China-ASEAN expo here, from October 20 to 24.
Myanmar is touting its potential in mining, manufacturing, food processing, as well as agriculture and fisheries, to attract investment dollars. The country's largest overseas investors are Thailand, the United Kingdom, Singapore and China.
The dominance of Chinese investment is expected to increase further, with Myanmar's biggest business association setting up a representative office in Nanning.
Zaw Min Win, vice-president, Union of Myanmar Federation of Chambers of Commerce and Industry said: "In other countries and other cities in China - like maybe in Guangzhou, Ningbo and Shanghai - we will have representative offices.
"So we're coming here today to expand more businesses, not only with China but also ASEAN member countries, especially in agricultural products."
Bilateral trade between China and Myanmar amounted to US$2.62 billion in 2008, and many are expecting the growing trade to bring prosperity.
"My products are wood-based as Mynamar has abundant wood resources. The Chinese like our products a lot. Apart from the retail sales, I also sign contracts with Chinese partners here," said Khin Htay Kywe, a businesswoman.
Apart from the growing trade and economic ties, the influence that China has on Myanmar also includes foreign aid and assistance, and even the training of agricultural experts in the Southeast Asian country. But this influence does not necessarily translate into economic and political dominance.
"We have our stand, our own country, our own policy. Anyway, China is our good neighbour. Not only China but also our ASEAN countries, we have a good relationship, we will do business," added Mr Zaw.
Analysts said Myanmar's strategic location is potentially important for China, especially in containing India's influence.
However, despite China's dominance in the country's economy, Myanmar's strong sense of nationalism and its resilience against foreign pressures means that it will continue to decide its own path.
- CNA/sc
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