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Myanmar becomes Yunnan's largest trading partner

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  The 2011 Greater Mekong Subregion Cooperation and Development Report (Blue Paper) was released Thursday (May 18) at Yunnan University in Kunming.

  The Blue Paper has analyzed the Greater Mekong sub-regional cooperation and development trend of the hot issues on China to further promote the development, proposing sub-regional cooperation countermeasures and suggestions.

  It pointed out a series of cooperation mechanisms in the promotion and cooperation agreement, GMS countries, the increasing volume of trade between the commodity structure is becoming more reasonable and the scale of mutual investment is expanding. Especially Myanmar has become Yunnan's largest trading partner, with two sides’ trade volume increasing by 42.9 percent year-on-year in the first 9 months of 2010 to US$1.23 billion. In 2009, the trade volume reached US$1.227 billion.

  The Blue Paper forecasts that total trade in countries of the region will continue to increase. By 2015, China’s total trade with GMS countries is expected to exceed 150 billion U.S. dollars. China is likely to rise even as the first or second largest ASEAN trading partner, while ASEAN is likely to rise as China’s third largest trading partner.

  In addition, the Blue Paper proposed to speed up Kunming’s construction of transnational economic corridor with Hanoi, Bnagkok and Rangoon.

  The Greater Mekong Subregion (GMS) is made up of China (specifically Yunnan Province and Guangxi Zhuang Autonomous Region), Cambodia, Lao People's Democratic Republic (Lao PDR), Myanmar, Thailand, and Viet Nam. It is a developing mutually beneficial cooperation and joint mechanism for self-reliance, but also through the strengthening economic ties and promoting sub-regional economic and social development of practical mechanisms.

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