China, Myanmar sign agreements on loan, economic cooperation

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Last updated at: (Beijing Time) Wednesday, December 17, 2003

China, Myanmar sign agreements on loan, economic cooperation

China and Myanmar signed a framework agreement on provision of concessional loan and another agreement on economic and technical cooperation here Wednesday.

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China and Myanmar signed a framework agreement on provision of concessional loan and another agreement on economic and technical cooperation here Wednesday.

Visiting Assistant Minister of Commerce of China Chen Jian and Myanmar Deputy Foreign Minister U Khin Maung Win endorsed the documents on behalf of their respective countries.

Under the prior agreement, the Chinese government will provide a concessional loan for use in the second phase of a key communication network project of Myanmar, while under the latter agreement, the Chinese government will extend an interest-free loan to Myanmar for use in projects mutually agreed.

U Khin Maung Win said at the signing ceremony that Myanmar and China are friendly neighbors with a long-standing "paukphaw" (fraternal) friendship. The two countries have mutual understanding and support each other. China has rendered much support for the economic development of Myanmar.

He expressed belief that the loans extended by China will contribute to the improvement of Myanmar's infrastructure and its economic development.

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