Russia, Myanmar sign deal for Dawei SEZ, port, and oil refinery projects

Regarding this news, a release from Myanmar stated that on February 23, the fifth meeting of the Russia-Myanmar Intergovernmental Commission on Trade and Economic Cooperation was held at the Myanmar International Convention Center (2) in  Nay Pyi Taw. The meeting was divided into four parts: a private session, a plenary session, a signing ceremony for agreements, and an economic forum.

Nine agreements related to economic infrastructure, banking, education, communication, technology, and humanitarian cooperation were signed between the governments and private sectors of the two countries during the meeting. However, the reports did not mention the Dawei Special Economic Zone.

The agreements were signed during the visit of a Russian delegation to Myanmar, led by Russian Minister of Economic Development Maxim Reshetnikov and Myanmar's Union Minister for Investment and Foreign Economic Relations, Dr Kan Zaw, along with other officials from both countries.

"The text of the agreement includes the basic framework for large infrastructure projects and energy projects being jointly implemented by Russian companies in Myanmar," Reshetnikov was quoted as saying in a statement from the Russian Ministry of Economic Development.

"We are discussing plans to build a port, a coal-fired power plant, and an oil refinery," Reshetnikov said.

"The oil refinery is the most complex issue, and no final decision has been made regarding its construction," he added.

"Regarding the oil refinery, it can be said that the Myanmar side is interested in building one. Our companies are still studying the economic aspects of such a project. From a business feasibility perspective, it is highly complicated," his remarks were cited by the Interfax news agency.

According to the Russian Ministry of Economic Development, the Dawei Special Economic Zone covers 196 square kilometres in the Andaman Sea and is planned to include a high-tech industrial zone, a transportation hub, an IT zone, and an export processing zone.

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