Myanmar has accepted the Chinese yuan(RMB) as a legal tender for direct investment, said Chinese Ambassador to Myanmar Ms. Ma Jia.
Ambassador Ms. Ma Jia made the remarks at the ceremony for “A Community with a Shared Future”, of China-Myanmar community held in Yangon on June 6. China has granted 100 percent duty-free access to Myanmar’s products and is also expanding the import of Myanmar’s agricultural and fishery products, Ms. Ma Jia added.
The Myanmar Investment Commission announced in March this year that it will accept capital investment in Myanmar in the Chinese currency, the yuan.In terms of bilateral economic cooperation, China is Myanmar’s main trading partner and the second largest investor in Myanmar. Chinese businessmen are investing in Myanmar’s manufacturing sector and are also involved in the construction of railways, ports, and industrial zones. The Chinese yuan has strengthened in the global financial market and has been included in the International Monetary Fund (IMF) currency basket.
