Myanmar's Union Parliament has approved a proposal for the country's signing as an observer in the memorandum of understanding (MoU) on the Belt and Road Initiative (BRI) tax administration cooperation mechanism.
The approval was made at Friday's session of the parliament following a debate on the proposal for the signing .
Parliament member Dr. Khun Win Thaung hoped that Myanmar's participation in the mechanism can promote the tax management capacity of the country through working together with other countries included in the project.
Participation in the project can bring opportunities for the benefit of the country and also challenges related with security as well, he added.
He pointed out that just signing as an observer in the MoU was not enough and more efforts should be made to balance the weakness of both sides.