The 1st Meeting of Joint Commission for Trade and Industrial Cooperation between Myanmar and the Republic of Korea was organized via videoconferencing yesterday afternoon. Union Minister for Commerce Dr Than Myint and Minister for Trade, Industry and Energy Mr Sung Yun-mo jointly chaired the meeting. In his discussion, Union Minister Dr Than Myint discussed enhancement of the economy, trade ties, investment, industry and energy sectors between the two countries, measures to overcome the economic crisis through such cooperation.
Korean Minister Mr Sung Yun-mo talked about their investments in Myanmar in the sector of garment industries.
He also discussed increasing investment of his country and assistance to Myanmar for its products to the global consumer markets.
The ROK minister also remarked the bilateral trade volume will increase in other sectors such as trade, investment, industry and energy.
Director- General for Trade Department of Trade U Min Min, in his capacity as the joint-leader for Joint General Trade Working Group Committee presented setting goal for bilateral trade, cooperation in promotion of trade, export of potential products, easing some restrictions on trade sector and establishment of Korea Desk. The ROK officials discussed the Myanmar-Korea Apparel Testing Research Institute (MKATRI), the Technology Advice and Solutions from Korea (TASK), investments in Myanmar textile sector, bilateral cooperation in foodstuffs production and packaging sectors, plans to develop rules and regulations for motor vehicles including MSMEs related matters.
Director-General for Department of Electric Power and Planning of the Ministry of Electricity and Energy Daw Mi Mi Khaing, in her capacity as joint-leader of Joint Energy Working Group Committee also explained Dala power supply project, Kyaukphyu LNG project, Shwe Taung power plant project, Economic Innovation Partnership Programme (EIPP) for natural gas, KOICA and other cooperation works.
At the meeting, both sides agreed on more cooperation in trade, industry, energy and investment based on bilateral friendship, sustainable development for economy and social affairs. It was the first meeting to implement the MoU for the establishment of the Joint Commission for Trade and Industrial Cooperation signed by ROK’s President Mr Moon Jae-in during his visit to Myanmar in September 2019.
The Joint Working Group Committee has held meetings in accordance with their relevant sectors on 11 September. The 2nd Meeting of Joint Commission for Trade and Industrial Cooperation is scheduled in September 2021 in Seoul, Korea.
(Translated by Khine Thazin Han)
Photo : MNA
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