Business news from Myannmar (10 Nov

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Subject: Business news from Myannmar (10 November 1999)

MyaBuzz
Business news from Myannmar (10 November 1999)

1110-01 US$ 700 Million From Rice and Timber Export Next Year
1110-02 Yangon seminars on AFTA
1110-03 JETRO Promotes Myanmar-Japan Trade Once Again
1110-04 More Australian Investment Likely In Myanmar
1110-05 Yangon Telephone Lines Y2K Ready
1110-06 Local Businessmen Attend Overseas Trade Meets
1110-07 Diplomatic/Foreign/Economic Relations
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1110-01 US$ 700 Million From Rice and Timber Export Next Year
**Myanmar is expected to earn more export income in the coming year in
light of expected good harvest and growing yearly timber productions.

For next year analysts predict Myanmar to export over 300,000 tons of rice
and over 700,000 tons of timber. The total income from these two major
export items by next year will be around US$ 700 million.

1110-02 Yangon seminars on AFTA
**A seminar on ASEAN Free Trade Area (AFTA) commences in Yangon on 8th
November. High-ranking Myanmar officials including the ASEAN Economic
Minister, Myanmar private entrepreneurs as well as officials of Japan's
Sasakawa Peace Foundation and Singapore Trade Promotion Board attended the
seminar's first day.

Myanmar urged for the liberalization of its Finance, Transport and Tourism
sector by 2001.The Minister also pointed out at the importance of ASEAN
initiative to create the whole south east Asia region as one production
centre under the ASEAN Industrial Cooperation Scheme.

He also called for inviting more Foreign Direct Investment when creating
the ASEAN Investment Area (AIA) through a more liberal and transparent
investment environment in the region.

1110-03 JETRO Promotes Myanmar-Japan Trade Once Again
**Myanmar's Commerce Minister met in Yangon on 8th November with the
Managing Director of Yangon -based Japanese External Trade Organization
(JETRO).

JETRO is mainly operating in Yangon to promote Japan-Myanmar bilateral
trade. Before the end of this year two high level JETRO officials are to
visit Myanmar to explore the export potentials of Myanmar frozen vegetable
and traditional woven fabric to Japan.

1110-04 More Australian Investment Likely In Myanmar
**Myanmar's Investment Commission Chairman met in Yangon on 8th November
with the visiting Managing Director of Sydney Team (Hawkhan) Corporation of
Australia.

The main focus of their discussion during the meeting was the Australian
company's plan to invest in Myanmar. Myanmar officials also explained on
investment opportunities and potentials in Myanmar.

According to the latest figure released by the Myanma Investment Commission
14 Australian companies have invested over US$ 80 million in Myanmar's
fishery, mining, manufacturing as well as oil and gas sectors.

1110-05 Yangon Telephone Lines Y2K Ready
**On 8th November Myanmar's Telecommunications authorities installed more
telephone lines in Yangon for the smooth overseas and local telephone
communications.

Myanmar engineers also installed the computer software to safeguard the
telephone system from Y2K computer problem.

Myanmar's Telecommunication department is also undertaking linkage work
from an Asia to Europe under water cable communication as well as digital
microwave link project between Yangon and Myanmar's second capital Mandalay.

1110-06 Local Businessmen Attend Overseas Trade Meets
**A two-member Myanmar's Chamber and Commerce delegation went to Japan on
7th November to attend the Top Management seminar to be held in Tokyo this
week.

Another Myanmar entrepreneur is on his way to Dhaka, Bangladesh to attend
the Trade and Investment Committee of BIMST (Bangladesh, India, Myanmar,
Sri Lanka and Thailand) regional economic grouping.

1110-07 Diplomatic/Foreign/Economic Relations
**This week's diplomatic, foreign and economic relations news are as
follows:

1. Last week Myanmar appointed U Tin Htun as Myanmar's Ambassador
Extraordinary Plenipotentiary to the Philippines.

2. This weekend Indonesia's new President paid a goodwill visit to Myanmar.
The President accompanied by his wife and other high-ranking Indonesian
officials met with Myanmar hierarchies during his four hours stay in
Yangon. He is on his tour of ASEAN nations, from 4th to 8 November.

3 Last Monday, the Chinese Commercial Councilor in Yangon met with
Myanmar's Minister for Light Industries.

4. Myanmar's newly appointed Ambassador to Australia presented his
credentials to Australia's Governor General in Canberra last week.

5. Myanmar's Central Bank Governor attended the ASEAN Finance & Central
Bank Deputies Meeting in Hanoi, Vietnam held last week.

6. A group Chinese entrepreneur of Haerbin Honghua Economy and Trading
Company was in Yangon last week and met Myanmar's Investment Commission
officials.
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