(VNF) - The Vietnam-Myanmar and Myanmar-Vietnam Friendship Associations signed a Memorandum of Understanding (MoU) on cooperation for five years as part of their talks in Hanoi on December 19^th morning.

At the event. (Photo: Phuong Mai/VNF)

According to the MoU, the two associations agreed to coordinate celebrations of the countries’ major anniversaries, and the organisation of trade – investment fairs and conferences, and business exchanges. They planned to introduce businessmen to public agencies and organisations, and provide the business community with market information.

The two sides pledged to work together to help connect Vietnamese and Myanmar tourism sectors. Their cooperation also covered delegation exchanges and regular liaison.

At the talks, Chairman of the Vietnam-Myanmar Friendship Association Chu Cong Phung lauded the role of its Myanmar counterpart in boosting the two nations’ people-to-people diplomacy across all sectors.

Phung said the Myanmar association delegation’s current visit to Vietnam is a chance for the sides to discuss cooperative plans and for Vietnamese and Myanmar enterprises to seek partnerships.

For his part, Chairman of the Myanmar-Vietnam Friendship Association Tint Swai said his association is willing to collaborate with Vietnam in all socio-economic spheres.

Upcoming joint activities should focus more on education to boost awareness of the younger generation on the importance of Vietnam – Myanmar ties, he noted.

The two friendship associations sign the MoU on cooperation. (Photo: Phuong Mai/VNF)

At the talks, the representatives of the two friendship associations jointly introduced and discussed the situation of economic cooperation and investment opportunities between the two countries' businesses. In particular, the delegates especially emphasised the issue of investment development of Vietnam's Special Economic Zones in Myanmar; incentives to invest; organising delegations to each other country to contact potential investors, survey and seek investment opportunities in areas such as energy, agriculture, construction materials, education and training.

As part of the function, Tint Swai and representatives from Myanmar firms fielded questions on Myanmar’s preferential policies for foreign investors, including those from Vietnam, focusing on areas of potential investment, mechanisms, and regulations in the country, how to establish Vietnamese enterprises in Myanmar and promote Vietnamese products in many localities so Myanmar people have the opportunity to learn more about the country of Vietnam through typical products, etc., helping Vietnamese businesses find effective investment direction and cooperation in the coming time, etc.

While working in Hanoi, Gia Lai, and Ho Chi Minh City from December 18^th-24^th, the delegation of the Myanmar-Vietnam Friendship Association will meet with the leaders of the Vietnamese State; working with the Embassy of Myanmar in Vietnam, the China Research Institute, BIDV (Joint Stock Commercial Bank for Investment and Development of Vietnam) and visiting the Ba Vi milk company.

Translated by Tu Phan