TITLE:
Opportunities, Challenges, and Countermeasures of China Myanmar Economic and Trade Cooperation under the Background of RCEP
AUTHORS:
Chit Min Htut
KEYWORDS:
RCEP Myanmar Opportunities, Challenges, Countermeasures
JOURNAL NAME:
Open Journal of Applied Sciences,
Vol.14 No.4,
April
24,
2024
ABSTRACT: China and Myanmar are geographically adjacent and have close economic and trade cooperation. China has been Myanmar’s largest trading partner and largest source of investment for many consecutive years. With the official entry into force of RCEP (Regional Comprehensive Economic Partnership) for Myanmar on May 1, 2022, the reduction of trade tariffs on goods and flexible rules of origin between China and Myanmar will undoubtedly bring more practical results to China Myanmar economic and trade cooperation. However, the implementation of RCEP in Myanmar may face a series of challenges such as poor business environment, weak human resource management, and outdated infrastructure construction. Finally, the article provides countermeasures for China Myanmar economic and trade cooperation from three aspects: optimizing the business environment to attract Chinese investment, increasing investment in education and training to improve labor quality, strengthening infrastructure construction to enhance economic support.