Myanmar, South Korea to cooperate in forestry

Myanmar and South Korea are seeking to cooperate in forestry in addition to agriculture and energy as part of the bid to promote their economic ties.

According to Monday's official newspaper New Light of Myanmar, the Myanmar-Korea Forestry Cooperative committee met in the new capital of Nay Pyi Taw last weekend and discussed cooperation in development of forest, wood-based industry, related human resources, technology sharing and arid zone greening projects.

Myanmar and South Korea have been engaged in a project of "Specialized Complex of Agriculture" under mutually beneficial basis to boost the development of Myanmar's agriculture.

The project, initiated in February this year between the Myanmar Agriculture Department and the Chonnam National University and the KBH Company of Korea, covers undertaking agricultural research, human resources development, growing of agricultural crops on commercial scale for export, dissemination of agricultural technique to Myanmar experts and exchange of information and communications technology through online system.

Meanwhile, the South Korean International Cooperation Agency (KOICA) will also fund Myanmar's development programs with 2 million US dollars during this year, local sources said, adding that the programs cover the sectors of health, agriculture, ICT, electric power and rail transportation.

Since 1988, KOICA has sent 70 volunteers to Myanmar to engage in exchange in agriculture, ICT, language and sports with Myanmar experts, while inviting 700 Myanmar staff to South Korea for training.

Besides, the KOICA is conducting a survey on building a railroad to link Myanmar and Thailand. The railroad will be constructed in southern Myanmar, extending from Mon state's Yay township to Thailand.

Myanmar and South Korea have also agreed to strengthen cooperation in the sectors of energy and mining, setting up a joint cooperation committee on energy and mineral resources at a time when the Daewoo International of South Korea is concentrating on its investment in the oil and gas sector.

South Korea's direct investment in Myanmar has so far reached 191.3 million US dollars in 34 projects, involving 100 South Korean companies, since Myanmar opened to foreign investment in late 1988, the latest official statistics revealed.

The figures also show that their bilateral trade amounted to 124.59 million dollars in the fiscal year 2005-06 with Myanmar's exports to South Korea amounting to 38.63 million dollars and its imports from South Korea taking 85.96 million dollars.

Source: Xinhua