Business news from Myanmar (26 Augu

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Subject: Business news from Myanmar (26 August 1999) 


MyaBuzz
Business news from Myanmar (26 August 1999)

C O N T E N T S
0826-01 Myanmar & Thailand Inks Bilateral Cooperation Agreement
0826-02 Japan Company Produces  "Made In Myanmar" GI sheets
0826-03 Myanmar Bags "ASEAN Best Young Entrepreneur Award"
0826-04 Myanmar Banks Readying for Y2K
0826-05 Search for Timber Entrepreneurs Not Yet Over
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0826-01 Myanmar & Thailand Inks Bilateral Cooperation Agreement
**Thailand's Foreign Minister and his wife arrived in Yangon on the 24th
August 1999. He and his Myanmar counter part chaired the fifth meeting of
Myanmar Thailand Joint Commission for Bilateral Cooperation.

Myanmar and Thai Foreign Ministers singed an agreement allowing the
diplomatic and official passport holder in both countries for 30-day stay
without entry visas. Officials from both side signed the cultural
agreement, which would allow for greater cultural, social, religion and
linguistics cooperation.

During the first half of the year, Thai-Myanmar trade value reached US$
267.9 million Border trade between two countries is helping to promote the
regional cooperation, economy, and tourism. A friendship bridge was built
connecting the Myawaddy at Myanmar central side and Mai Sauk at the
Thailand's midwest side. Plans are under way to construct another bridge
linking at the northern part of Thailand, Tachilek at Myanmar side and Mai
Sai at the Thailand side.

Two economic cooperation pacts will be signed between two countries soon.
The Thai Prime Minister plans to visit Yangon.

Vision 2020 laid down by ASEAN will incorporate all 10 member of block.
Myanmar-Thailand Joint Commission for Bilateral Cooperation was set up in
1993 and the commission's meetings will hold in Bangkok and Yangon
alternatively.

0826-02 Japan Company Produces  "Made In Myanmar" GI sheets
**A senior advisor of Itochu Corporation of Japan met on 24th August with
the Secretary-1, Khin Nyunt in Yangon.

Itochu Corporation invested in Myanmar the manufacturing of galvanized iron
(GI) sheets. This is in collaboration with the local company Myanmar Golden
Star Company and Singaporean company Nat Steel Trade International Limited.

The senior advisor of Itochu Corporation Mr.Tomo Takahara (who is also
advisor of the Japan Myanmar Chamber of Commerce and Industry Business
corporation and Chairman of Tokyo Chamber of Commerce and Industry) on 24th
August met with top officials of ministry of commerce and discussed the
bilateral cooperation matters with officials of Myanmar Federation Chamber
of Commerce in Yangon.

0826-03 Myanmar Bags "ASEAN Best Young Entrepreneur Award"
**The 6th ASEAN Youth Day will be held in Vientiane, Laos from 25 to 27 of
this month.

A 4-member delegation left Yangon on 24th August to attend the meeting. U
Tin Maung Oo, young entrepreneur will be the recipient of ASEAN Best Young
Entrepreneur Award for 1999.

0826-04 Myanmar Banks Readying for Y2K
**Myanmar Central Bank in coordination with the central work group
committee for Y2K is actively coordinating with private banks over the
solving of Y2K.

The Y2K work group committee was set up in Myanmar with technicians from
Myanmar Computer Technician Association.  The Association has put up a help
desk to tackle the Y2K problem for computer users.

Last July, the Myanmar Computer Technician Association has published a
guidebook regarding Y2K.

The association is sponsoring a computer exhibition in Yangon from October
23-26 1999.

0826-05 Search for Timber Entrepreneurs Not Yet Over
**Ministry of Forestry are all for the establishment of more timber-based
enterprises. Myanmar citizens as well as foreign entrepreneurs are invited
to establish the timber based industrial enterprises in Thanithayi
Division, Myanmar's southern coastal area.

At the coastal and on the archipelago of the Tavoy, Kawthaung and Myeik
districts there are forests consisting several varieties of timber. A
20-year term is guaranteed for timber entrepreneurs signing up at this time.

The entrepreneurs will be given freehand in the processing of the logs.
However, special emphasis is given on the protection of forests as well as
of the whole state.

About 50 % of Myanmar's land area is covered with forests, More than 8,000
species of plants may be found here and which includes 3,200 tree species,
97 bamboo varieties and 32 cane types. About 103,312 sq. kms. of the land
is designated as reserved forest.
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