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Myanmar president to pay state visit to Malaysia

Xinhua, March 9, 2015 Adjust font size:

Myanmar President U Thein Sein will pay a state visit to Malaysia soon, said an official announcement Monday without giving specific date of his trip.

It will be the first visit of a state leader of Myanmar to the Southeast Asian member nation in decades at the invitation of Malaysian King Almarhum Sultan Badlishah.

In March 2012, Malaysian Prime Minister Najib Tun Razak visited Nay Pyi Taw with the two sides then reaffirming their commitment to consolidate the existing bilateral relations and strived for greater cooperation between the two countries in strategic areas of mutual interest.

The two sides agreed to continue working together in the fields of capacity building under the Malaysian Technical Cooperation Program.

During Razak's 2012 Myanmar visit, a Myanmar-Malaysia business matching was launched, bringing together entrepreneurs of the two countries.

In recent years, Malaysian firms were planning to increase investment in Myanmar especially in the sector of hotels and tourist in addition to oil and gas and livestock breeding.

Malaysia's investment in Myanmar amounted to 1.654 billion U.S. dollars as of January 2015, ranking the 7th in the country's foreign investment line-up since it opened to such investment in late 1988.

Myanmar-Malaysia bilateral trade amounted to 948.56 million U.S. dollars in the fiscal year of 2013-14, of which Myanmar's export to Malaysia represented 108.87 million dollars while its import from Malaysia stood as 839.69 million dollars.

Myanmar exports to Malaysia rubber, vegetables and seafood while its imports from Malaysia palm oil, crude oil products, chemical products as well as machinery and accessories.

Following Myanmar's chairmanship of the Association of Southeast Asian Nations (ASEAN) in 2014, Malaysia will be the next chair of the regional grouping this year. Endi