Central Idea
- In a significant move towards expanding the Belt and Road Initiative (BRI) in South Asia, China has expressed its commitment to prioritize the extension of the China-Myanmar Economic Corridor (CMEC) to Sri Lanka.
What is CMEC?
| Details | |
| Geographical Scope | Connects China’s Yunnan Province with Mandalay, Kyaukphyu SEZ on the Bay of Bengal, and Yangon in Myanmar. |
| Strategic Importance | Provides China an alternative to the Strait of Malacca for trade and energy transport. Offers a shorter, more secure route to the Middle East and Africa. |
| Infrastructure | Involves building roads, railways, ports, and industrial zones. Key projects include the development of the Kyaukphyu deep-sea port. |
| Economic Impact on Myanmar | Promises infrastructure development, foreign investment, and job creation in Myanmar. Raises concerns about debt sustainability, environmental impact, and displacement of local communities. |
| Political and Security Challenges | The corridor passes through politically sensitive and conflict-prone areas in Myanmar, posing challenges to its implementation and stability. |
Expanding the Economic Corridor
- China’s Strategic Priority: State Councillor Shen Yiqin emphasized that China is making the extension of the CMEC to Sri Lanka a strategic priority.
- Free Trade Agreement Acceleration: Both nations affirmed their commitment to expediting the implementation of the China-Sri Lanka Free Trade Agreement, reinforcing their economic partnership.
Significance of CMEC in BRI
- CMEC’s Emergence: CMEC is the latest addition to the six land corridors within the Belt and Road Initiative, gaining prominence over the stalled Bangladesh-China India Myanmar (BCIM) corridor.
- South Asian Perspective: India and Bhutan remain outside the BRI framework, while countries like Sri Lanka are enthusiastic participants, poised for a more substantial economic contribution in the second phase of the initiative.
