India’s decision to stay out of the Regional Comprehensive Economic Partnership (RCEP) may increase Southeast Asia’s dependence on China, but a recently opened corridor between Thailand and Myanmar could ease those concerns by bringing new business opportunities for five ASEAN countries and India.
The new bridge – part of the East-West Economic Corridor between Thailand and Myanmar that opened a few weeks ago will give Cambodia, Laos, Myanmar, Thailand and Vietnam access to the vast Indian market and reduce heavy reliance on China, ET has learnt.
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The second Thai-Myanmar Friendship Bridge across the Moei River, which connects Myawaddy, a city in Myanmar’s eastern region, and Mae Sot district in western Thailand, was built at a cost of about $140 million, according to the Thai government. Distribution of goods will become smoother on this new highway link.
Source: Economic Times
