Roundup: Myanmar, Vietnam seek direct air link to boost economic, trade cooperation

YANGON, Dec. 15 (Xinhua/GNA) -- Myanmar and Vietnam have been seeking direct air link as part of their efforts to boost the two countries' economic and trade cooperation and the current visit to Nay Pyi Taw of Vice-President of Vietnam Airlines Duong Tri Thanh is seen as paving way for the establishment.

According to Tuesday's official newspaper New Light of Myanmar, Myanmar Deputy Minister of Transport Colonel Nyan Tun met with Thanh in the new capital Monday and had discussions on matters relating to aviation between the two countries.

Myanmar tourism circle expects that the probable Yangon-Hanoi direct air link would bring in more tourists and boost Myanmar's tourism industry.

World travelers especially those from Japan can travel to Myanmar via Hanoi, from America via Japan and Hanoi, and from South Korea via Hanoi if the air link is established, said the Myanmar Travel and Tourism Association.

So far, Myanmar has direct air links mainly with Thailand, Malaysia, Singapore and China, and most of the world tourists especially from Asia and Europe come to Myanmar via Bangkok.

Meanwhile, Vietnamese businessmen are reported to plan investment in Myanmar hotel industry for the first time as part of its engagement in the country, according to the Myanmar Hoteliers Association.

The planned hotel is to be built near Myanmar's current top- level one, the Sedona, located on the Kaba Aye Pagoda Road in the biggest city of Yangon.

There are some other foreign-invested hotels operating in the city, which are three from Thailand, one from Singapore and one other from China.

In November, a Vietnamese ministerial delegation and officials of Myanmar's biggest business organization met in Yangon.

The discussions between the Vietnamese delegation, led by Deputy Minister of Industry and Trade Nguyen Thanh Bien, and the Myanmar delegation, led by President of the Union of Myanmar Chambers of Commerce and Industry (UMFCCI) U Win Myint, covered matters relating to economic and trade opportunities and cooperation between the two countries, exchanging of delegations, study of agricultural technology, trade and investment.

Some Vietnamese entrepreneurs, who had visited Myanmar, held that they wanted to put a first hand into the Myanmar market in the light of Myanmar's foreseen political and economic evolution ahead although its current investment in Myanmar reached merely 0. 15 percent of the total.

According to the official statistics, since Myanmar opened to foreign investment in late 1988. Vietnam's in Myanmar hit 23.4 million U.S. dollars in nearly 21 years up to the end of August this year

The investment was highlighted by that in the oil and gas sector injected in September 2008 with 20 million dollars along with the Russian Federation's 94 million dollars in the same sector on the same month.

Vietnamese businessmen said they wants to expand investment in the fishery and hotel industry.

Vietnam stands the 16th among Myanmar's exporting countries. Myanmar mainly exported its forestry products to Vietnam, followed by agricultural produces, seafood and electrical spare parts, while it imported from Vietnam steel, electronic goods, pharmaceuticals, medicines, industrial products, chemical products, computer and accessories, plastic, cosmetics and engine oil.

Under a memorandum of understanding reached at the 5th meeting of the Myanmar-Vietnam Joint Trade Committee at the Vietnamese port city of Ho Chi Minh in February this year, Vietnam will import over 5 million U.S. dollars' hardwood from Myanmar and the activity will be carried out in 2010, according to the commerce authorities.

Official statistics show that Myanmar-Vietnam bilateral trade in the first nine months of 2009 hit 60 million dollars. Of the total, Myanmar's export to Vietnam took 42 million dollars, while its import from Vietnam stood 18 million dollars, enjoying a trade surplus of 24 million dollars.

GNA