NAY PYI TAW, 3 Dec - Vice-President of the Republic of the Union of Myanmar Thiha Thura U Tin Aung Myint Oo and Belarusian PrimeMinister Dr. Mikhail V. Myasnikovich delivered addresses at the opening ceremony of the First Myanmar-Belarus Business Forum at Myanmar International Convention Centre, here, at 9.30 am today.

Also present on the occasion were Union ministers, deputy ministers, departmental heads, Myanmar and Belarusian entrepreneurs and guests. Speaking on the occasion, Vice-President Thiha Thura U Tin Aung Myint Oo delivered an address. He said:

After diplomatic relations were established between the Republic of the Union of Myanmar and the Republic of Belarus in September 1999, Your Excellency's visit is the first visit of the Head of Government of the Republic of Belarus.

Although Myanmar and Belarus are geographically far away, I sincerely believe that bilateral cooperation will further develop between the two countries at the end of your visit. I also consider that today's forum, which is aimed at promoting bilateral economic cooperation, will bring about constructive results as well as friendship and understanding between businessmen and entrepreneurs from both countries.

During your visit, the Agreement between the Government of the Republic of the Belarus and the Government of the Republic of the Union of Myanmar on Trade and Economic Cooperation and Agreement between Ministry of Agriculture and Production of the Republic of Belarus and the Ministry of Agriculture and Irrigation of the Government of the Republic of the Union of Myanmar on cooperation in agriculture field were signed.

Furthermore, as regards the private sector, I am pleased to note that the Agreement on cooperation between the Belarusian Chambers of Commerce and Industry and the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry has also been signed. I am of the view that these agreements will contribute to promote future cooperation between the two countries.

According to the available data on bilateral trade, there remain many opportunities to further promote bilateral trade.

At present, Myanmar is undergoing administrative and economic transformations to develop the nation. Although the economy of the country is based on agriculture, strenuous efforts are being made to develop into an industrialized State. As trade and investment are the driving force for national development, rules and regulations are being amended to keep pace with the changing times, with a view to promoting trade and investment.

In addition, arrangements are being made to enact new laws and regulations. Monetary matters relating to trade and investments are also under review to bring more benefits to businesses. Potential investors are being invited to invest in various sectors. In the energy sector, the Ministry of Energy of Myanmar has opened opportunities for foreign investors in Upstream and Downstream sectors in oil and gas industry.

We note that minerals are included among the main exports of Belarus. Since Myanmar is endowed with rich mineral resources, we are willing to enter discussion on technical cooperation matters for exploration of rare minerals.

In this connection, I would also like to stress that cooperative opportunities exist for the application of new technologies to carry out scientific research in the agricultural sector and agriculture and food production. Currently, 454 companies from 31 countries have made investments in Myanmar amounting to US$ 36.07 billion and investments are expected to increase further.

I would like to state that neighbouring countries and Asian countries are the main trading partners of Myanmar. Therefore, efforts are being made to increase trade with European countries and Myanmar would also like to increase exports to Belarus. Furthermore, we would like to invite businessmen and entrepreneurs from Belarus to come and invest in Myanmar.

After that, the Belarusian Prime Minister delivered an address. He said:

We of two nations have introduced ourselves. This year, the volume of foreign trade between Belarus and Myanmar grew ten times. But I am sure we have just embarked on a long journey. The potential of growth of trade turnover between our countries that we can reach over the next few years is fifty times as high. We have come to offer you mutually beneficial projects in the spheres of agriculture, industry, science and technology. In our cooperation, we can prioritize agricultural projects.

Belarus is among the leading world producers of competitive agricultural machinery. Myanmar has long since been one of the most educated countries in the region. We suggest establishing in Myanmar the Centre of Agriculture and Agricultural Machinery Construction to introduce cutting-edge technologies in practice. Belarus is the world's largest producer of potash fertilizers. Belarus actively participates in industrializing many countries. Your country's industrial growth will be powered by agricultural machinery construction and mining industry.

We suggest to jointly establish in Myanmar the production of tractors, automobiles and municipal machines. The head of the Belarusian tractor-building company is eager to organize the work with Myanmar without delay.

We are interested in turn-key engineering projects in oil sector, power industry, design and construction of grids and energy infrastructure. Without intermediaries will Belarusian producers deliver to Myanmar diesel generators, transformers and other equipment.

I invite the interested companies of Myanmar to take part in "Recreation" and "Tourist Business" annual exhibitions held in Minsk. Belarus welcomes Myanmar's economic progress, and I am confident that bilateral cooperation will foster a sustained economic growth of our countries. Then, the opening of the First Myanmar-Belarus Business Forum came to an end.

After the ceremony, the Vice-President together with the visiting Belarusian Prime Minister viewed round the foodstuffs, consumer goods and industrial products manufactured by Belarus displayed at the hall.

Next, Chairman of the Belarusian State Science and Technology Council Mr Igor Voytov delivered an opening address and President of the Belarusian CCI Mr Myatilkov Mikhail spoke words of thanks.

Adviser to the Ministry of NationalPlanning and Economic Development Daw Mya Thuza discussed current investment of Myanmar, Director-General U Khin Maung Lay of Ministry of Commerce the trade, and Vice-President of RUMFCCI U Maung Maung Lay, economic opportunities.

At 10.20 am, the visiting Prime Minister met the media at Signing Room of MICC and explained manufacturing of products in Belarus, trade promotion between the two countries, agrobased industries, meat and fish production, rubber related industries, factories for beans and pulses, mining, investment in energy sector and cooperation investment of private sector.

MNA