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Singapore and Myanmar agreement
S'pore Telecom keen to invest there
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(By Douglas Wong)
SINGAPORE and Myanmar agreed yesterday to broaden their economic
links from an initial focus on tourism and agro-business into the areas of
telecommunications and education.
"With both countries now belonging to the Asean family, there will
be even more opportunities for interaction and cooperation," Trade and
Industry Minister Lee Yock Suan said at the second meeting of a joint
ministerial committee on trade and investment ties.
The committee agreed to extend Singapore's training of Myanmar
officials to the telecommunications field, and also to look into a Myanmar
proposal for the Yangon Institute of Technology to collaborate with the
Nanyang Technological University.
Mr Lee added that Singapore Telecom is keen to invest in Myanmar if
and when it opens its telecommunications sector.
Singapore is Myanmar's largest trading partner -- two-way trade hit
$1.3 billion last year -- and is also the second largest foreign investor
in Myanmar after Britain, with 55 projects worth US$1.2 billion. The
minister and his committee co-chairman, Myanmar's Lieutenant-Gen
Khin Nyunt, also witnessed the signing of a maritime transport agreement
and a cooperation agreement between the business chambers.
Lt-Gen Khin Nyunt, First Secretary of Myanmar's ruling State Law and
Restoration Council (Slorc), said in his comments that his country
considered itself fortunate to have good and supportive friends like
Singapore now, when it is on the verge of economic take-off.
He also said that Myanmar's new market-oriented policies along with
unprecedented peace and stability, have allowed the country to focus on
developing
its economy.
Myanmar, he said, lagged behind because too many resources had been
diverted to fighting armed rebellions.
But apart from one armed group, all other insurgent groups have
returned to the legal fold, he said.
The general had called on Prime Minister Goh Chok Tong and Deputy
Prime Minister Lee Hsien Loong on Friday, and said he was "deeply heartened
by their kind words of support and encouragement".
Officials said he had a candid discussion with Mr Goh during their
half-hour meeting. No details of the meeting were given.
In his speech, Mr Lee Yock Suan urged Myanmar to create an
attractive and stable environment for investment, noting that its tight
foreign exchange controls and shortage of hard currency had caused problems
for foreign investors.
He said: "At this stage of Myanmar's development, it is vital to get
the basics right.
"It is not easy to open up to the outside world and compete on the
global marketplace."
He said 1994 was a turning point in terms of enhanced cooperation
between the two countries.
"Prime Minister Goh Chok Tong visited Myanmar in March 1994 and
agreed with Senior Gen Than Shwe to foster even closer bilateral
co-operation," he said.
"The Agreement on Bilateral Economic Cooperation was signed in June
1995 and the inaugural joint ministerial working committee meeting was
held in Myanmar in January 1996."
"That first meeting decided on several initiatives in agro-business,
tourism, human resource training and other areas."
Lt-Gen Khin Nyunt and his 20-strong delegation, including the Minister
of Hotels and Tourism, Lt-Gen Kyaw Ba, and the Minister of National Planning
and Economic Development, Brig-Gen David Abel, met about 60 Singapore
businessmen at a lunch following the meeting.
Singapore has already trained more than 300 Myanmar officials in
areas like tourism, agro-business, port and airport management.
Next month will see the opening of a joint test centre in Yangon to
improve poultry breeds as well as the marketing of joint Singapore-Myanmar
tour packages through a German travel wholesaler.
[Straits Times, 6 October 1997].
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All Burma Students' Democratic Organisation (ABSDO) [Australia]
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