Myanmar says to accept Renminbi for settlements, stresses China ties - Reuters

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The 2015 edition of the 100 renminbi notes are displayed at the Bank of China Tower in Hong Kong, China November 12, 2015. REUTERS/Bobby Yip/Files

Dec 22 (Reuters) - Myanmar's military government said on Wednesday it would pilot accepting Renminbi as an official settlement currency for cross-border trade next year and that restarting development projects with neighbouring China was a "major priority".

Myanmar's junta, which seized power in a Feb. 1 coup, said it enjoyed a special "kinship" with China which has supported it financially and with COVID-19 vaccines.

The statement issued by the ministries of information and investment identified several joint projects with China that the government is seeking to push ahead, including plans for railways and ports.

It said the economic downturn this year was "much less severe than forecasts of some international economists".

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Reporting by John Geddie; Editing by Andrew Heavens

Our Standards: The Thomson Reuters Trust Principles.

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