Myanmar will start accepting Renminbi as an official settlement currency next year for trade with China, it said on Wednesday, as it looks to restart several joint projects and forge closer economic ties with Beijing.
Myanmar's junta, which seized power in a Feb. 1 coup, said in a statement it enjoyed a special "kinship" with China, which has supported it financially and with COVID-19 vaccines.
The military coup in Myanmar and an ensuing crackdown on protesters in which hundreds have been killed has been widely criticised in the West and prompted international sanctions on military officials and military-linked businesses. In its statement, Myanmar said the pilot currency project would "further improve bilateral cooperation" with Beijing and would "substantially improve border trade", especially for agricultural products.
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