The Centre of Myanmar Affairs Studies under the Information and Public Relations Department of the Ministry of Information organized a workshop on Geo-economics and Myanmar in Nay Pyi Taw yesterday.
At the event, Union Minister for Information U Maung Maung Ohn said the country needs systematic economic policies to support the stability of the economic sector. The country is located between the two most populous nations, and some of the interests of these two nations are concerned with Myanmar. If the quality products that these countries need are exported, there might be potential to grab the most significant market. Therefore, the government should take advantage of geo-economics.
Then, the Union minister encouraged attendees to present positive suggestions regarding the advantages of geo-economics and how to use the proper opportunities.
Scholar U Ko Ko (Ko Ko-Sethmu Tekkatho) of the Centre of Myanmar Affairs Studies presided over the discussion, and Managing Director Dr Zaw Oo of the Centre for Economic and Social Development and financial management expert U William Aung of Financial Management from Vancouver, Canada, discussed under the topic Geo-economics and Myanmar (How to grab the opportunities).
First, Dr Zaw Oo discussed the relationship between geopolitics and geo-economics in the formation of trade groups. These business opportunities can create primary income, marketing, export promotion, global market status that changed due to COVID-19, corn export to Thailand amid COVID-19 outbreak, bean export to India, investment and jobs in garment sector, revenue through remittance despite the enormous numbers of migrant workers for scarcity of employment in local, opportunities for maritime connections with China and India, geo-economics based on proper geopolitical issues, tax collection in projects launched by the country, plans to receive passive income from projects and enhancement of economic relation with Thailand.
Then, U William Aung discussed the crucial role of the Asia-Pacific region mentioned by the SAC Chairman at the 9th Moscow Conference on International Security, business creation in global economy by China, role of geopolitics and geo-economics, chance to explore the main income source, 40 per cent of total world trade in China, Laos, Thailand, India, Bangladesh and Myanmar with over 3,000 million people, business opportunities via Logistic Transit and other economic related matters.
U Ko Ko Hlaing, Union Minister, participated in the discussion of the matters related to preparations to promote the State economy, construction of bridges crossing over the Ayeyawady River aiming at developing the regions on the the western part of the river, roads in Rakhine State, Kyaukphyu project, potential access to electricity if Myitsone project is completed, plans to create transportations by cooperating with China, India and Thailand, rural development programmes, Dry Port Zone, special economic zone and efforts of government regarding the sanctions.
Union Minister U Aung Naing Oo also discussed the strengthening the natural resource trade and bilateral trade with the neighbouring countries that are crucial in geo-economics, economic nationalism, efforts to overcome the economy that relies on the dollar, implementation of bilateral economic cooperation and regional economic cooperation, energy safety, solid finance and human resource development.
Then, Union Minister U Maung Maung Ohn presented gifts to those who participated in the workshop and concluded the event. — MNA/KTZH
