Myanmarese Vice President U Nyo Saw was one of Putin’s guests of honor at this year’s Eastern Economic Forum. His visit to Russia in early September followed President Min Aung Hlaing’s in late August in a symbolic display of how close their relations have become in recent years since the latest phase of Myanmar’s decades-long civil war broke out half a decade ago in early 2021. U Nyo Saw’s speech predictably concerned his country’s economic plans and untapped related potential.
Myanmar’s attractiveness to foreign investors is its location, logistics, and agricultural potential. In the order that they were listed, U Nyo Saw pointed out that “Myanmar is strategically located between Southeast Asia, South Asia and China, forming a land bridge connecting the world’s largest markets”. It’s also a member of ASEAN and the Regional Comprehensive Economic Partnership (RCEP) in which most of the Western Pacific states participate. Investing in Myanmar thus opens up wider market access.
Moving along to logistics, U Nyo Saw said that “Myanmar is located in the centre of regional transport routes, such as the India-Myanmar-Thailand Trilateral Highway, the ASEAN Highway Network, the East-West Economic Corridor, and the China-Myanmar Economic Corridor. Therefore, Myanmar has a vast potential for becoming a country that can establish ties with Asian economic routes.” This means that Myanmar’s strategic location can easily be used to access the wider markets described above.
As for agriculture, U Nyo Saw mentioned that “We are not only trying to produce agricultural and livestock products but are also building an agricultural supply chain comprising processing, storage and transportation of value-added goods.” He presented these plans as strengthening global food security. Given his country’s location and logistics, this is a reasonable vision, but it of course requires more investment to scale Myanmar’s agricultural and livestock exports accordingly.
Also of relevance, U Nyo Saw touched upon Myanmar’s Dawei deep-water port, the strategic economic importance of which was elaborated on here. He also expanded on its advantages and envisaged role in facilitating trade Indo-Pacific trade in his answer to a question that the moderator asked him after his speech. Another pertinent point that he made is to remind everyone that Myanmar wants to join the Eurasian Economic Union. That would lead to more trade with Russia and investments from it.
For as promising as Myanmar’s economic potential is, it’s regrettably held back by the ongoing conflict that’s deterred foreign investment from the untapped hinterland and resulted in it being concentrated along the coast. That’s fine for industrial production and exporting wares throughout RCEP but means that Myanmar won’t significantly contribute to global food security till after the war ends since its most fertile soil lies along the Irrawaddy River that flows through the central part of the country.
Russia, India, and China, the RIC core of BRICS and now also the SCO, are Myanmar’s top strategic partners. They’d therefore do well to coordinate their support of the country to help bring the conflict to a close as soon as possible in order to then unleash its untapped agricultural potential. More arms sales to the military and diplomatic initiatives with the rebels, such as the one that China pioneered, are the most reasonable means to that end. Ultimately, however, the US will have to stop meddling in Myanmar.
