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Myanmar, Japan make progress in economic cooperation

(Xinhua)

11:01, September 03, 2012

YANGON, Sept. 3 (Xinhua) -- Myanmar and Japan are making progress in bilateral economic cooperation, especially in the past four months following Myanmar President U Thein Sein's first historic milestone visit to Japan in 28 years in April.

As part of its aid, Japan was preparing to help Myanmar launch satellite in a bid to promote the capacity of the country's telecommunication and information sectors.

The initial feasibility study on the launching involves Marubeni Aerospace Corporation.

Under the project, Japan will also help in drawing space- related strategy via space record and provide in teaching space- related technology at the universities.

For launching satellite, Myanmar has set up a five-member central committee and a seven-member working committee.

In July, Myanmar's National Planning and Economic Development Ministry and Japanese Embassy signed a memorandum of understanding on Japan's equipment assistance worth of 2.416 billion yen (30.24 million U.S. dollars).

According to the MoU, Japan will provide 1.256 billion yen for upgrading health equipment in central Myanmar which will be implemented from 2012 to 2016 and 1.160 billion yen for providing equipment assistance for construction of dams in Ayeyawady Delta region which will be implemented from 2012 to 2015.

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