The new flag of Myanmar was introduced along with implementing changes to the country’s name, which were laid out in the 2008 Constitution.
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Burma, officially the Republic of the Union of Myanmar, adopted a new state flag on 21 October 2010 to replace the former flag in use since 1974.
The design of the Myanmar flag has three horizontal stripes of yellow, green and red with a five-pointed white star in the middle. The three colours of the stripes are meant to symbolise solidarity, peace and tranquility, and courage and decisiveness. Wikipedia