"In a significant new development, China has proposed initiating an economic corridor with Myanmar to advance bilateral trade links, creating a central intersection for the Belt and Road Initiative between Southeast Asia and China. Addressing the media while on a recent visit to Myanmar and Bangladesh, Foreign Minister Wang Yi announced, “China and Myanmar have great potential for cooperation as they are highly complementary in economy. To further enhance China-Myanmar comprehensive strategic cooperative partnership, China has proposed building the China-Myanmar economic corridor.” Starting from Yunnan in southwestern China, the corridor would proceed south to Mandalay in Myanmar, eastward to Yangon and then westward to the Kyaukpyu special economic zone. This would boost connectivity and facilitate development throughout Myanmar. Three branches of this network would operate along with a proposed $1.5 billion oil pipeline through the Bay of Bengal. Deepening economic cooperation with these new projects under the BRI, China has also backed a $7.3 billion deepwater port in Rakhine state..."