-“We will further strengthen bilateral ties and cooperation in the year ahead to the mutual benefit of our two countries and peoples”: Myanmar envoy U Thant Sin
NDN Media Group(www.ndnnews.co.kr) & Seoulcity magazine sat down with Myanmar envoy U Thant Sin to hear about the brief history of diplomatic and economic ties between Myanmar and Korea, the main issues discussed and agreed during the ASEAN-Republic of Korea Commemorative Summit etc. on the occasion of the Myanmar Independence Day 2020. –Ed.
Q: First of all, please explain the brief history of diplomatic and economic ties between Myanmar and Korea.
Our two countries have enjoyed friendly and cooperative relation since the establishment of diplomatic ties on 19 May 1975. This year marks the 45th anniversary of the establishment of the diplomatic relations between Myanmar and Korea. We will use this opportunity to further strengthen bilateral relations and expand cooperation between our two countries.
Myanmar-Korea General Trade Agreement was signed on 30 September 1967. Our two countries have great potential to promote investment and trade sectors. The trade volume between our two countries has been steadily increasing year by year. It has reached nearly 1 billion US dollars in 2018-2019 fiscal year. In terms of investment, Korea stands as the 6th largest foreign investor with 4 billion USD invested in 200 projects, which include Myanmar-Korea Friendship Bridge and Korea-Myanmar Industrial Complex (KMIC) in Yangon.
President Moon Jae-in’s state visit to Myanmar in September 2019 was another significant milestone in Myanmar-Korea relations. The visit has contributed to the consolidation of the existing bonds of friendship between Myanmar and Korea.
I wish to express our sincere appreciation to the Government of the Republic of Korea for its development assistance extended to Myanmar by offering ODA loans, Economic Development Cooperation Fund and ODA grants through KOICA.
Q: Would you please tell us the main issues discussed and agreed during the summit talks between President Moon Jae-in and Myanmar’s State Counselor, Aung San Suu Kyi during the ASEAN-Republic of Korea Commemorative Summit in Busan on November 26, 2019.
Last year in late November, State Counsellor Daw Aung San Suu Kyi visited Busan, Korea to attend the 30th Anniversary of ASEAN-ROK Commemorative Summit and 1st Mekong-ROK Summit. During the visit, State Counsellor cordially discussed with the President Moon on matters pertaining to the consolidation of the existing traditional friendly relations; progress on the implementation of matters agreed by both sides during the visit of President Moon to Myanmar in September 2019; strengthening of mutually beneficial cooperation, particularly in the fields of culture, education, agriculture, fisheries, environment, infrastructure and rural development as well as fostering people-to-people exchanges.
They also discussed possible recruitment of more workers from Myanmar under the Employment Permit System (EPS) of Korea; cooperation between Myanmar youth enthusiasts of Korean Culture and the K-Wave Academy and launching of solar power station in Mann Aung, Rakhine State in Myanmar. During the visit, two leaders witnessed the signing of 3 MoUs focusing on cooperation in fisheries, TVET and environmental sectors.
Q: What do you think would be the important industrial sectors where Korean companies to invest in Myanmar in the near future.
Currently, Korean industries in Myanmar are mainly engaging in oil and gas sectors, construction, garment, food and restaurants, as well as other small industries.
The energy, construction and manufacturing sectors would be the important industrial sectors where Korean companies should invest in Myanmar in the near future.
Q: Please introduce popular outstanding Korean companies in Myanmar.
- POSCO International, Land and Housing Cooperation (LH), Lotte Group and GS Group are some of the outstanding Korean companies investing in Myanmar.
- Posco International has been engaging in the oil and gas development sector and also investing in other sectors. POSCO International has completed a solar power plant on Mann Aung Island near the Myanmar Gas Field in Rakhine State.
- The Korea Land and Housing (LH) has already started its project, the Korea-Myanmar Industrial Complex (KMIC) in northern Yangon.
- GS Engineering & Construction has won the construction of Korea-Myanmar Friendship Bridge which is being financed by Myanmar Government and the soft loan of Economic Development Cooperation Fund of Korea. The construction was started in late December 2019 and scheduled to be completed in 2022.
- Lotte Group is also doing their businesses very well by opening Lotteria food chain and hotel service in Yangon. Some Korean banks such as Shinhan, Worri and KB Kookmin have their branches and representative offices in Myanmar. There are also many LG Electronics showrooms and Samsung’s home appliances and mobile phone showrooms throughout Myanmar. Furthermore, Korean-based automakers, Hyundai and Kia have opened their showrooms in Yangon, Myanmar.
- Moreover, Daewoo Bus Myanmar Company was established in March 2018 and was registered as a joint venture between Myanmar Trade Center and Korea based Zyle Daewoo Vehicle Company. Myanmar Trade Center controls 75 percent of shares while the remaining 25 percent is owned by Zyle Daewoo Commercial Vehicle Company. Daewoo Bus Myanmar Co., Ltd. is currently manufacturing buses and opened service center in Myanmar.
Q: Please introduce popular tourist attractions in Myanmar for Korean tourists abroad.
- Myanmar sits at the crossroads of Asia’s great civilizations of India and China, and looks out onto the vast Indian Ocean next to Thailand. One of South East Asia’s largest and most diverse countries, Myanmar stretches from the sparkling islands of the Andaman Sea in the south right up into the Eastern Himalayan mountain range.
Myanmar remains one of the most mysterious and undiscovered destinations in the world.
- Popular tourist attractions in Myanmar especially for Korean tourists are Shwedagon Pagoda in Yangon, Kyaik-Htee-Yoe Pagoda which is known as golden rock in Mon State, the ancient capital of Myanmar, Bagan which is one of the UNESCO World Heritage Sites in Mandalay Division, Mandalay Palace, Inle Lake in Shan State, Ngapali Beach and Myeik Archipelago in southern part of Myanmar.
Q: Please tell us of your point of view how to strengthen further the economic and cultural ties between the two countries in the years to come.
The relations between the two countries are growing stronger and closer because both countries have similar political, historical and social backgrounds. People to People exchanges are key to our bilateral relations. To promote tourism sector, our government has granted visa exemption for South Korean visitors for one year since 1 October 2018 with a view to promoting people to people exchanges and tourism sector. Arrival of Korean tourists has increased to 80 percent in 2019 compared to the same period prior to granting the visa exemption status. The commencement of another direct flight between Yangon and Incheon by Myanmar Airways International in December 2019 is yet another milestone in people-to-people connectivity between our two countries.
The state visit by South Korea’s President Moon Jae-in to Myanmar in September created significant momentum for further investment and trade between our two countries. Myanmar and Korea inked a series of agreements on economic and infrastructure development during his visit.
We welcome the New Southern Policy of the Republic of Korea which aims to elevate Korea’s relationship with ASEAN member countries. While we congratulate the Government of Korea for the successful hosting of the ASEAN-ROK Commemorative Summit, we would like to reaffirm our strong commitment to enhance our bilateral ties and cooperation in the years ahead for the mutual benefit of our two countries and peoples.
We will further strengthen bilateral ties and cooperation in the year ahead to the mutual benefit of our two countries and peoples.
Vice-chairman Choi Nam-seok
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