China seeks ‘new chapter’ in first visit with Myanmar’s Suu Kyi

China and Myanmar pledged to open a “new chapter” in their sometimes strained relationship, raising the prospect that stalled Chinese investment projects in the Southeastern Asian country could be allowed to resume.

Aung San Suu Kyi, head of Myanmar’s ruling National League for Democracy and newly installed foreign minister, and her Chinese counterpart, Wang Yi, said the two had “reached consensus” to approach existing problems through negotiations. Wang’s trip — the first high-level diplomatic visit since Suu Kyi’s party filled top government offices last week — signaled China’s interest in firming up ties tested by the previous military-backed government’s halt of projects such as the $3.6 billion Myitsone dam.

Japan raises stake in Dawei project

The Thai Cabinet today approved the proposed increase in Japan’s stake in the Dawei development project to 33.33 per cent. Under the Finance Ministry’s proposal, the stakes of Thailand and Myanmar will fall from 50:50 to 33.33 per cent. The investment remains capped at Bt100 million per each country.

Sansern Kaewkamnerd, the spokesperson of the Prime Minister’s Officer, said that the change followed Deputy Prime Minister Somkid Jatusripitak’s visit to Japan.

Transport Minister Arkhom Termpittayapaisith said that the three parties would meet on December 14 with the high-level working group and Dawei Development Co Ltd’s representatives.