THE Myanmar-China Investment and Trade Promotion Association (MCITP) has signed memoranda of understanding (MOUs) with business associations in Tianjin, Chengdu, and Nanning in China, as well as Yangon in Myanmar, according to the association’s official launch ceremony.
It is also reported that the MCTIP is currently operating with 547 Myanmar-Chinese businesspeople as members.
The MCITP aims to attract about US$500 billion in foreign investment from China to Myanmar and to increase China-Myanmar trade volume to approximately US$100 billion between 2026 and 2030.
In addition, MCITP will continue to invest with Chinese companies in logistics, agriculture, livestock, fisheries, and mining in Myanmar, and will transfer technology and expertise to enable Myanmar products to be used domestically and exported as value-added goods.
Similarly, MCITP will provide business solutions, facilitate business partnership searches, offer policy advice, and promote digital and financial cooperation between Myanmar and Chinese companies. Based on Myanmar-China friendship, MCITP, a specialized economic association, was established on 31 January in accordance with national plans and guidance, with the aim of promoting investment and trade.
The MCITP was formed to accelerate cooperation between businesspeople from both countries and to expedite project implementation, following meetings between the Acting President of the Republic of the Union of Myanmar during his visit to China and 278 businesspeople from 217 Chinese companies in Tianjin and Chengdu. — ASH/TH
