Business / Economy

'Belt and Road' contributes to regional development

(Xinhua) Updated: 2015-10-21 11:04

YANGON - The Belt and Road Initiative, advocated by China, is a great concept which not only benefits China but also contributes to the development of Myanmar and the region, said U Ko Ko Hlaing, Myanmar President's chief political adviser, on Tuesday.

In an interview with Xinhua, U Ko Ko Hlaing said China is a driving force for the development of world economy, adding that despite fluctuation of China's stock market, he believed that China could overcome the challenges and maintain the sustainable development.

He said China is Myanmar's biggest economic partner standing not only as Myanmar's biggest source of investment but also as the largest trading partner.

When asked about the trend of China-Myanmar relations, he pointed out that no matter it is viewed from the strategic angle or from the socio-economic perspective, China is always important to Myanmar regardless of which government takes office after the election.

The new government would place the priority on the development of Myanmar-China relations and the relations would continue to develop based on the Five Principles of Peaceful Coexistence.

On allegation of China's meddling in Myanmar's peace process, U Ko Ko Hlaing rejected the charge, saying China is a positive pusher for Myanmar's peace.

On the recent signing of Myanmar's Nationwide Ceasefire Accord (NCA), U Ko Ko Hlaing attributed the historic start to President U Thein Sein government's efforts in pushing the national reconciliation and peace process, underlining that the NCA signing signified Myanmar's peace process has entered a new phase.

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