Friday, 21 March 2014

Myanmar, EU Working Towards Investment Protection Pact

YANGON, March 20 (Bernama) -- Myanmar and the European Union (EU) are working towards reaching a mutually beneficial investment protection agreement, Xinhua news agency reported.

EU trade commissioner Karel De Gucht and Myanmar's National Planning and Economic Development Minister Dr Kan Zaw will hold talks on the agreement in Nay Pyi Taw on Thursday.

The EU-Myanmar Investment Protection Agreement seeks to improve protection for investors of both parties and to attract investments to Myanmar and the EU by ensuring they will be treated on equal footing with other investors.

It will also promote responsible corporate conduct in line with internationally recognised principles and guidelines.

Karel arrived in Yangon on Wednesday for a two-day official visit to reinforce trade relationship between Myanmar and the EU.

Myanmar's exports to the EU rose from 165 million euro (US$228.09 million) in 2012 to 223 million euro (US$308.25 million) last year.

source: Bernama
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