Korea to establish economic committee with Myanmar

Korea and Myanmar have agreed to establish a joint economic cooperation committee intended to solidify their partnership in business and economic sectors, the Ministry of Strategy and Finance said yesterday.

The agreement was made on Thursday between Finance Minister Bahk Jae-wan and his Myanmarese counterpart Kan Zaw during a meeting in Nay Pyi Taw, the capital of Myanmar, also known as Burma, according to the ministry.

Both agreed to hold their first committee meeting during the first half of this year in Myanmar, the ministry said. During the talks, Bahk highly praised the markedly improved relations between the two countries and underlined the need for pan-governmental support in order to back up the ties down the road, according to the ministry.

Bahk’s visit to Myanmar is part of his travel to Southeast Asian countries in order to strengthen cooperation with emerging countries in the region. Yonhap