Myanmar, Vietnam agree to promote economic cooperations in 12 sectors

14:47, April 04, 2010      

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Myanmar and Vietnam agreed to promote economic cooperation in 12 key sectors, according to a joint statement issued on Sunday at the end of Vietnamese Prime Minister Nguyen Tan Dung's three-day visit to Myanmar.

The cooperation in the 12 sectors, which cover agriculture, industrial crops, fishery, banking and finance, aviation, telecommunication, oil and gas, mining, electric equipment production, automobile manufacturing and assembling, construction and trade and investment cooperation, will be pursued under following guidelines, the statement said.

Relating to agricultural sector, the two sides agreed to increase cooperation in production of high quality seeds in rice, corn, coffee and tea as well as trade and investment promotion in agriculture.

With regard to the sector of industrial crops, the two countries will strive to quickly achieve the goal of commercial planting of rubber trees and facilitate the investment activities of Vietnam rubber group, Ho Chi Minh city youth volunteers and Hoang Anh Gia Lai group. Expanded cooperation on other industrial crops will also be sought.

As for the fishery sector, the two sides will promote aquaculture, fishing, import and export of aquatic products, scientific and technological cooperation and encouragement will be made for the establishment of joint ventures in fishing and aquaculture between A.S.V holdings and suitable Myanmar counterparts.

Dealing with banking and finance, both sides welcomed the opening of a representative office of the Bank for Investment and Development of Vietnam (BIDV) in Yangon to create the basic legal framework for banking cooperation in the future between the State Bank of Vietnam and the Central Bank of Myanmar.

Concerning aviation, the two sides agreed to consider visa exemption to the crew members as the two countries have inaugurated Hanoi-Yangon direct flight services, and further consideration on joint operation in Myanmar's international and domestic air routes.

In the aspect of telecommunication, both sides appreciated the launch of Vietnam's Viettel representative office in Yangon and its signing of bilateral roaming, roaming hub and international call contracts and Myanmar agreed to further consider other investment projects submitted by Viettel while facilitating VNPT to enhance its business cooperation in Myanmar.

In oil and gas, Myanmar agreed to continue to create mutually beneficial conditions for Petro Vietnam in oil and gas exploration and production in offshore Myanmar and will consider the A.S.V holdings' intention to invest in the sector and also Myanmar agreed to facilitate Vietnamese companies to foster their mining cooperation in the country.

With respect to trade and investment cooperation, electric equipment production, automobile manufacturing and assembling and construction sector, the two sides agreed to create favorable conditions in the promotion of cooperation in the sectors.



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