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Wired News on September 6, 1995
- Subject: Wired News on September 6, 1995
- From: FreeBurma@xxxxxxx
- Date: Thu, 07 Sep 1995 09:39:00
Attn: Burma Newsreaders
Re: Wired News on September 6, 1995
Bangladesh and Burma begin border trade
DHAKA, Sept 6 (Reuter) - Bangladesh and Burma have begun long-agreed
border trade allowing free flow of goods across the Naf river, which
officials said was a new landmark in ties between the two countries.
Dhaka and Rangoon signed the border trade agreement in May last year but
its implementation was delayed until Tuesday for unexplained reasons.
Commerce Minister Shamsul Islam and Burmese counterpart
Lieutenant-General Tun Kyi launched the trade in the presence of businessmen
in the Bangladesh border town of Teknaf and Moungaw township on the other
side, the official BSS news agency said late on Tuesday.
Under the agreement, traders will be able to import or export goods worth
US$2,500 at a time without registration or opening of letters of credit.
Businessmen are also allowed to make 48-hour trips across the border.
Commerce Ministry officials said on Wednesday the official two-way trade
between the two countries stood at nearly $18.7 million in fiscal 1994/95
``The event is a milestone and a turning point in the bilateral ties and
this would go a long way in promoting the trade and commercial relation
between two friendly countries, Islam said.
``The beginning of the border trade would serve as the corner stone for
promotion and consolidation of the bilateral ties in the coming days,'' BSS
quoted Tun Kyi as saying.
Bangladesh will export pharmaceutical products, iron rods, irrigation
pumps, plastic pipes and ready-made garments to Burma and import rice, pulse,
beans, timber, bamboo, livestocks, fish and vegetables, officials told
Unocal (UCL.N) to spend US $400-500 mln/yr in Asia
SINGAPORE, Sept 4 (Reuter) - Unocal Corp said it plans to spend US$400
million to US$500 million per year in Asia over the next one to two years in
various oil and gas projects.
Unocal Corp chairman and chief executive officer Roger Beach told a news
conference to announce the company's secondary listing in Singapore that the
projects would be concentrated in Thailand, Burma, Indonesia and the
"In the short-term, Unocal's estimated budget for investment in Asia
would be US$400 million to US$500 million ... short-term means one to two
years," Beach said.
-- Singapore newsroom (65 8703199)
Rtr 00:16 09-04-95