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Business news from Myannmar (8 Nove



Subject: Business news from Myannmar (8 November 1999) 

MyaBuzz
Business news from Myannmar (8 November 1999)

1108-01 AFTA Seminar On 8th November
1108-02 Korean Minister On Strategic Meets With Myanmar Counterparts
1108-03 Asia & Pacific Rural Development Meeting In Yangon
1108-04 Paper Mill Construction On
1108-05 New Enamel Paint Factory Inaugurated
1108-06 Myanmar Last Week
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1108-01 AFTA Seminar On 8th November
**A seminar on implementation of ASEAN Free Trade Area (AFTA) will be held
in Yangon on 8th and 9th November.

Myanmar's Strategic and Int'l Studies Department and Japan's Sasakawa
Foundation jointly sponsor the seminar.

Myanmar officials from Foreign Investment Commission and Foreign Trade
Department will submit papers to the seminar regarding the ASEAN
Conventions on Free Trade as well as on Myanmar's obligations.

Singapore Trade Promotion Board will submit a paper to the seminar on
Singapore's integration to AFTA framework and combating economic
uncertainties in the region.

Myanmar will fully integrate into AFTA mechanism by Year 2025, when Myanmar
ports will be tariff free for goods imported by the ASEAN nations.

1108-02 Korean Minister On Strategic Meets With Myanmar Counterparts
**The Korean Minister for Commerce, who is currently in Yangon, met on 4th
November with the high-ranking Myanmar officials.

The Korean Commerce Minister met on 4th November with his Myanmar
counterpart as well as Myanmar ministers for ASEAN Economic Development and
Heavy Industries.

Korea has established several joint venture businesses with Myanmar's state
and private owned enterprises. Plans are under way for the widening up of
Korea-Myanmar business cooperation. Korea's Daewoo Corporation and
Myanmar's Heavy Industries Ministry are to start motor vehicle assembly
plant in Yangon in the near future.

1108-03 Asia & Pacific Rural Development Meeting In Yangon
**The Asia & Pacific Rural Development meeting is to be held in Myanmar.
The date for holding the meeting is yet to be announced.

Delegates of 13 countries in the Asia & Pacific region will attend the
meeting.  The venue will be in Yangon and Bagan, the central Myanmar
ancient capital.

The meeting will discuss development of the rural areas with special
emphasis on agricultural sector.

1108-04 Paper Mill Construction On
**Myanmar's minister for Light Industries met in Yangon on 4th November
with the visiting General Manager of China's Tianjin Machinery Import &
Export Corporation.

The Chinese company and Myanmar's Light Industry Ministry are jointly
building a paper mill in the upper Myanmar capital city of Mandalay, which
is expected to be complete by 2001.

1108-05 New Enamel Paint Factory Inaugurated
**Myanmar's Moetaungdan Industrial Company inaugurated a new enamel paint
factory in Yangon on 4th November.

The factory is located in Hlinethayar Industrial Zone about 30 km off
Yangon. The factory will produce the enamel paint with hi-tech machines.
The factory officials guarantees uniformity in the price of paint
nationwide.

1108-06 Myanmar Last Week
**Last week's business summary:
1. Last week a 14-member delegation of the Southeast Asia Youth Programme
sponsored by the Japan's Prime Minister Office visited Yangon, and met with
high-ranking Myanmar officials.
2. List of Foreign Potential Investors Visited Yangon Last Week:
1. Myanmar's Energy Minister met on 31st October with the visiting former
Finance Minister and Chairman of PTT Exploration and Production Public
Company of Thailand in Yangon.
2. Hong Kong's Chairman of Chen Chang Int'l Marketing & Construction
Service was in Yangon last week to meet with Myanmar's Fisheries Ministry
officials.
3. China's Wanbo Engineering Corporation visited Yangon and met with
Myanmar's Telecommunication minister in Yangon on 1st November.
4. Chairman of Japan's Kyoshin Co. Ltd visited Yangon during the past week
to talk with Myanmar minister for Social Relief and Resettlement.
5.Vice President of National Bank Ltd of Bangladesh had discussion with
Myanmar's Minister of Finance during his visit to Yangon last week.
6. Managing Director of RK manufacturing Corporation was last week in
Yangon and explored business opportunities with Myanmar's Investment
officials
7. Chairman of PTT Exploration and Production Public Company of Thailand
was in Yangon last week and met Myanmar's Energy Minister
8. Myanmar's Secretary of Investment Commission met on 3rd November with
the visiting Board Chairman of Thailand's Sutech Engineering Co; Ltd in
Yangon.
9.Country Development Director of France's Indochina Seafood Company was in
Yangon and met Myanmar's Minister for Fishery.
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