Xinhua, Yangon :
Myanmar and South Korea will promote bilateral trade and investment under a letter of intent on the move signed at a S. Korea-Myanmar forum underway in Yangon, official media reported Friday.
The letter of intent was signed between Myanmar Ministry of Commerce and Korea Trade and Investment Promotion Agency.
The South Korea-Myanmar forum, which began on Thursday, is focusing on furthering economic, political and cultural exchange between the two countries.
The forum is part of Korea Week-2015 in Myanmar running from Thursday to next Tuesday in commemoration of the 40th anniversary diplomatic establishment between Myanmar and South Korea.
President of the Union of Myanmar Federation of Chambers of Commerce and Industry U Win Aung said the forum will lead to investment and trade opportunities between the two nations.
According to official statistics, South Korea’s investment in Myanmar amounted to 3.36 billion U.S. dollars as of March 2015 in 113 projects since late 1988 when the country opened to foreign investment, accounting for about 6 percent of Myanmar’s total foreign investment and standing the 6th in the foreign investment line-up.
Bilateral trade between Myanmar and South Korea reached 1.569 billion U.S. dollars in the fiscal year 2013-14, of which Myanmar’ s export to South Korea accounted for 352.92 million U.S. dollars while its import from the East Asian country stood at 1.217 billion U.S. dollars.
Myanmar and South Korea will promote bilateral trade and investment under a letter of intent on the move signed at a S. Korea-Myanmar forum underway in Yangon, official media reported Friday.
The letter of intent was signed between Myanmar Ministry of Commerce and Korea Trade and Investment Promotion Agency.
The South Korea-Myanmar forum, which began on Thursday, is focusing on furthering economic, political and cultural exchange between the two countries.
The forum is part of Korea Week-2015 in Myanmar running from Thursday to next Tuesday in commemoration of the 40th anniversary diplomatic establishment between Myanmar and South Korea.
President of the Union of Myanmar Federation of Chambers of Commerce and Industry U Win Aung said the forum will lead to investment and trade opportunities between the two nations.
According to official statistics, South Korea’s investment in Myanmar amounted to 3.36 billion U.S. dollars as of March 2015 in 113 projects since late 1988 when the country opened to foreign investment, accounting for about 6 percent of Myanmar’s total foreign investment and standing the 6th in the foreign investment line-up.
Bilateral trade between Myanmar and South Korea reached 1.569 billion U.S. dollars in the fiscal year 2013-14, of which Myanmar’ s export to South Korea accounted for 352.92 million U.S. dollars while its import from the East Asian country stood at 1.217 billion U.S. dollars.
