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Myanmar, China to boost trade, ties: state media

(Xinhua)
Updated: 2009-10-24 15:54

YANGON: Myanmar and China will further strengthen Paukphaw relations between the two countries and constantly promote bilateral cooperation in political, economic and trade sectors, Myanmar state media said Saturday.

Hailing the successful China visit of the Secretary-1 of the State Peace and Development Council, General Thiha Thura Tin Aung Myint Oo, who attended the 6th China-ASEAN Expo (CAExpo) and CA Business and Investment Summit held in Nanning, capital of southwest China' Guangxi Zhuang Autonomous Region, the New Light of Myanmar said in its editorial that the friendly relations between the governments and peoples of the two countries have been mutually beneficial in the international arena, adding that the two countries have been able to promote cooperation in various sectors.

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According to the editorial, Tin Aung Myint said the two countries' bilateral cooperation has expanded in various sectors, especially in the agriculture, hydropower, industrial, mining, oil and gas sectors and infrastructural building industry.

Myanmar and China have established friendly relations for many years, and the diplomatic ties between the two countries will mark the 60th anniversary next year.

The 6th China-ASEAN Expo, which was held from Tuesday to Saturday, attracted 242 Myanmar entrepreneurs of 83 companies in agriculture, fishery, industry, manufacturing, gems, traditional handicrafts, forestry and hotel and tourism.

According to Chinese official statistics, China-Myanmar bilateral trade amounted to 2.6 billion U.S. dollars in 2008, up 26.4 percent. Of the total, China's exports took 1.978 billion dollars.

Up to the end of 2008, China's contracted investment in Myanmar reached 1.33 billion dollars, among which, mining, electric power, and oil and gas took up 866 million dollars, 281 million dollars and 124 million dollars respectively.

China has risen from the 6th position to the 4th in Myanmar's foreign investment line-up.