2:21 PM
Waa Haa Haa
Monday, 21 May 2012 10:37 ....
TOKYO: Japan said Monday it is in talks with Myanmar on an investment
treaty, with Tokyo eyeing terms to help companies in the isolated
nation as it embraces democratic reforms.
A second round of the
negotiations, which began in February, will start in Myanmar's capital
Naypyidaw on Wednesday between officials from the countries' foreign and
trade ministries, a Japanese trade ministry official said.
"We
hope to support Japanese firms' investment in Myanmar" by preparing
investment terms that are non-discriminatory to foreign firms, he told
AFP.
"We hope to seal a deal by later this year, hopefully by the
(Association of Southeast Asian Nations) summit in November," he added.
The
move comes as Myanmar prepares for an economic resurgence following the
end of decades of military rule, which in turn is attracting attention
from firms all over Asia seeking a piece of the potentially lucrative
market.
Tokyo has said it would forgive about $3.7 billion of
Myanmar's debt and resume suspended aid as Japanese firms continue a
push into the country, formerly known as Burma.
Myanmar has
largely untapped natural resources, including minerals, metals and
fossil fuels, and a potentially huge tourism sector, although challenges
abound with the rule of law weakly enforced and a major infrastructure
deficit.
The United States last week eased investment sanctions on
Myanmar and named the first US ambassador to the country in more than
two decades.
Group of Eight leaders gathered for talks in the US
at the weekend praised the "remarkable efforts" of President Thein Sein
and pro-democracy leader Aung San Suu Kyi in delivering democratic
reforms.
Monday, May 21, 2012
Japan, Myanmar start investment treaty talks
Copyright AFP (Agence France-Presse), 2012
0 comments:
Post a Comment