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Myanmar-Japan Business Committee Me
- Subject: Myanmar-Japan Business Committee Me
- From: darnott@xxxxxxxxxxx
- Date: Sat, 04 Nov 2000 01:58:00
Myanmar-Japan Business Committee Meeting Held in Yangon
Xinhua, Rangoon, 4 November 2000. A business cooperation
committee of Myanmar and Japan Federations of Chambers of
Commerce and Industries (CCI) reviewed their cooperation in
the last few years at a coordination meeting held here.
The third meeting, attended by officials of the two federations
of CCI, discussed issues on trade and investment, nurturing of
small-and medium-sized businesses, human resources
development and previous agreements reached between them.
The meeting will also lay down future plans for their cooperation.
Speaking at the opening session of the coordination meeting on
Friday, Myanmar Minister of Hotels and Tourism and Acting Minister
of Commerce Major-General Saw Lwin said Myanmar is inviting
investment and technology of Japan to develop the country by exploiting
its rich natural resources, adding that profits will be shared equally
among the partners.
The business cooperation committee of the Myanmar-Japan federations
of CCI was established in February 1998, aimed at enhancing bilateral
economic cooperation between the two countries.
During the past four years, Japan's investment in Myanmar dropped from
72.148 million U.S. dollars in fiscal year 1996-97 to 26.85 million in
1997-98, to 4.69 million in 1998-99 and to 5.095 million in 1999-2000
which ended in March, according to official statistics.
However, Japan's total investment injected into Myanmar so far
amounted to 232.88 million dollars since late 1988 when Myanmar
opened to foreign investment, ranking the ninth in foreign investor line-up.
Meanwhile, Myanmar-Japan bilateral trade was valued at 321.92 million
dollars in 1999-2000, accounting for 8.44 percent of Myanmar's total
foreign trade in the year.
Japan stands as Myanmar's fourth largest trading partner after Singapore,
Thailand and China.