Mekong Memo Myanmar 20230912

Mekong Memo Myanmar Weekly, September 12, 2023: Business, politics, finance, trade & legal news.

Sep 12, 2023

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With that said, here is your Mekong Memo Myanmar for the week of September 12, 2023:

Headlines:

ASEAN Struggles with Internal Cohesion Amid Rising Regional Tensions

Junta Plans Elections for 2025 Amid Ongoing Resistance

ASEAN Surpasses U.S. and EU as China's Largest Trading Partner

UN Raises Alarm Over Unregulated Chemicals Fueling Meth Trade

Maritime Trade Suffers Sharp Drop

Thailand Urged to Take Lead in Resolving Myanmar Crisis

Junta Seeks BRICS Membership Amid Western Sanctions

China and Myanmar Military Advance Kyaukphyu Economic Zone

Mandatory E-Commerce Registration Introduced by Ministry of Commerce

V-Power Halts Majority of Myanmar Projects Amid Economic Strain

ASEAN's Ineffectiveness in Addressing Myanmar Crisis

Chinese and Thai Companies Capitalize on Myanmar's Economic Vacuum

New Travel Requirements for Thais Visiting Myanmar

ASEAN Struggles with Internal Cohesion Amid Rising Regional Tensions

The recent ASEAN summits highlighted the bloc's ongoing challenges in addressing regional issues, particularly the South China Sea conflict and Myanmar's civil unrest. Despite adopting stronger language on Myanmar, ASEAN's consensus-based diplomacy appears increasingly ineffective against the backdrop of escalating tensions between major powers. The organization's inability to enforce standards on member states like Myanmar further undermines its global reputation, even as Myanmar seeks legitimacy from other key players like China, India and Russia. These developments raise questions about ASEAN's relevance and its capacity to adapt to a rapidly changing geopolitical landscape.

Junta Plans Elections for 2025 Amid Ongoing Resistance

Myanmar's military-backed government is planning to hold elections in 2025, according to anonymous party officials. The announcement comes as the junta faces ongoing resistance since its February 2021 coup that ousted Aung San Suu Kyi's National League for Democracy (NLD). The junta has approved 36 political parties for future elections and will replace the first-past-the-post system with a proportional representation system. The NLD, a significant political force in Myanmar, has been dissolved under new military-authored rules.

ASEAN Surpasses U.S. and EU as China's Largest Trading Partner

ASEAN has overtaken the U.S. and EU to become China's largest export market, according to recent data. The shift is attributed to the Regional Comprehensive Economic Partnership (RCEP), led by China, which has been in effect since last year. Trade between China and ASEAN reached a total value of 3.59 trillion yuan in the first seven months of 2023, accounting for 15.3% of China's total foreign trade. This growing partnership is seen as a stabilizing force in global trade, especially as demand in developed markets declines.

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