YANGON, June 29 (Xinhua) -- Myanmar and South Africa have vowed to promote bilateral trade and a memorandum of understanding (MoU) between key business organizations of the two countries will be signed, an official report said Thursday.
The decision of signing the MoU came after talks between U Zaw Win Min, president of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), and Geoffery Doidge, the South African ambassador to Thailand, according to a statement of the UMFCCI.
The talks focused on enhancement of business cooperation between the two countries, promotion of exports to South Africa and boosting investment in Myanmar.
According to official statistics, South Africa's investment in Myanmar amounted to only 1.309 million U.S. dollars, ranking the 45th in the country's foreign investors' line-up.
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