HÀ NỘI – Myanmar President Htin Kyaw and his wife Su Su Lwin arrived in Hà Nội yesterday for a visit to Việt Nam at the invitation of President Trần Đại Quang.
The three-day visit starting today aims to seek stronger co-operation between the two countries, especially in banking, finance, tourism and aviation.
The bilateral friendship and co-operation have developed fruitfully in recent years with regular delegation exchanges and effective co-operation mechanisms.
In 2015, the two sides hosted a number of activities to mark the 40th anniversary of their diplomatic ties and held the 8th meeting of the Joint Committee on Bilateral Cooperation.
Regarding economic, trade and investment links, both nations have pledged to maintain collaboration in a dozen priority fields, including agriculture, seafood, finance-banking, aviation, telecommunication, oil and gas, mineral mining, electronic equipment production, automobile assembling and manufacturing, construction, investment and trade.
Bilateral economic co-operation has thrived in recent years thanks to annual trade fairs in the respective countries to introduce products and attract investors.
Việt Nam is the 10th biggest trade partner of Myanmar, with two-way trade reaching US$299 million in the first seven months of this year, a year-on-year rise of 15.9 per cent.
In addition to staples like iron and steel, metal products, machinery, equipment and spare parts, plastic material and products, garment-textile, means of transport, and ceramic, Việt Nam also exported food, cement and interior decoration to Myanmar.
As of May 2016, Việt Nam had 47 investment projects worth $557 million in Myanmar.
In March 2016, Myanmar licensed the Bank for Investment and Development of Vietnam to open a branch in the country. — VNS