Friday, 21 March 2014

Myanmar president meets EU trade commissioner

Myanmar President U Thein Sein met visiting European Union (EU) Commissioner for Trade Karel De Gucht in Nay Pyi Taw Thursday, said the President's Office.

The pair had discussions on increase of Myanmar's export to the EU, promotion of trade links, efforts for socio-economic development, signing of a trade agreement, technical assistance to Myanmar for upgrading Myanmar's export to EU standard and encouragement of more EU entrepreneurs to invest in the Southeast Asian nation, Xinhua reported citing sources.

Karel also had talks with Myanmar Minister of National Planning and Economic Development Kan Zaw with both parties agreeing to negotiate for an investment protection agreement between EU and Myanmar, according to a joint statement.

They voiced commitment to work swiftly towards a mutually beneficial investment protection agreement which is supposed to improve protection for investors of both parties and to attract investments to Myanmar and the EU by ensuring that they will be treated fairly and on an equal footing with each other's investors.

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

Myanmar exports to the EU increased by 35 percent in 2013 to 223 million euros ($310.2 million) compared with 165 million euros in 2012.

source: Business Standard
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