YANGON, July 4 -- A noted Myanmar businessman has hailed the 21st Century Maritime Silk Road initiative proposed by China, saying the initiative will open up economic links between neighbors and calling for cooperation to enhance friendship through the initiative.

Dr. Maung Maung Lay, vice chairman of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), said in an interview with Xinhua on Friday that the initiative will help countries complement one another and create job opportunities.

The initiative will bring all-sided economic development to Myanmar covering fields of culture and commodity exchange, he said, adding that closer people-to-people access and country-to-country link will lead to increased understanding and mutual respect.

The 21st Century Maritime Silk Road is part of what is commonly known as the Belt and Road initiative, which also includes the Silk Road Economic Belt. The initiative aims to revive the ancient trade route between Asia and Europe. The network passes through over 60 countries and regions, with a total population of 4.4 billion.