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JunHe assisted CITIC Consortium in the signing of Kyaukpyu Deep-water Port Project, a major project of the Belt and Road and China-Myanmar Economic Corridor

2020.03.03

On the morning of January 18, 2020, the agreements relating to the Kyaukpyu Special Economic Zone ("Kyaukpyu SEZ") Deep-water Port Project were exchanged in the presence of the Chinese President Xi Jinping and the State Counsellor of Myanmar Aung San Suu Kyi. Mr. Chang Zhenming, the Chairman of the CITIC Group (acting on behalf of the CITIC Consortium) exchanged the Shareholder Agreement and Franchise Agreement drafts in respect of the deep-water port project with U Than Myint, the Deputy Minister of Commerce, Myanmar, which was a milestone signifying that the China-Myanmar Economic Corridor (CMEC) concept under the "Belt and Road" framework had been put into practice and development.


Kyaukpyu Deep-water Port and Industrial Park ("Kyaukpyu Project") is one of the major projects under the "Belt and Road" and CMEC frameworks which are jointly supported by China and Myanmar. It is of great significance to the economic and social development of Myanmar and the enhancement of the China-Myanmar economic and trade cooperation and friendship. Early in 2009, when he was still the Vice President of China and visited Myanmar, Xi Jinping witnessed the execution of the MOU Relating to the Kyaukpyu Economic and Technology Zone, Deep-Water Port and Railway Project between the CITIC Group and the Myanmar government. In April 2017, President Xi Jinping and the then Myanmar President Htin Kyaw (who visited China at that moment) witnessed the execution of the exchanged documents in respect of the Kyaukpyu SEZ project between the CITIC Consortium (acting through the CITIC Group) and the Myanmar Government.


The Chinese Government and Myanmar Government will follow the principle of "Consultation, Contribution and Shared Benefits" and fully honor the 3Ps philosophy (namely "People, Prosperity, Planet") during their effort to develop the project, in order to enhance the overall infrastructure level in Myanmar, enable the sustainable development of local economy, and provide jobs and benefits to the local people.


As the legal counsel of CITIC Consortium, JunHe has participated in the whole process of Kyaukpyu Deep-water Port Project from bidding to agreement drafting and negotiation, providing clients with high quality and efficient legal services.


The leading partner of this Project is HUA, Xiaojun (Warren).


JunHe is the only Chinese law firm to be admitted as a member of Lex Mundi and Multilaw, two international networks of independent law firms. JunHe and selected top law firms in major European and Asian jurisdictions are “best friends.” Through these connections, we provide high quality legal services to clients doing business throughout the world.