China, Myanmar to sign MOU on economic corridor in 2018, report

BEIJING, June 29 (Xinhua) -- China and Myanmar will sign a Memorandum of Understanding (MOU) on building the China-Myanmar Economic Corridor (CMEC) this year, one of the highlight projects of the Belt and Road Initiative, according to reports by media in Myanmar.

U Aung Naing Oo, director general of the Directorate of Investment and Company Administration of Myanmar, said that an agreement about the CMEC had already been reached, and an official document will be signed in 2018.

He made the remarks in Kunming, capital of Southwest China's Yunnan Province, while attending the Second Working Group Meeting on the CMEC.

In November 2017, China formally proposed the idea of building the CMEC which will connect Yunnan with Mandalay in central Myanmar and also build up infrastructure to connect Myanmar's economic centers.