Myanmar, Sri Lanka to promote bilateral cooperation

A recent two-day Joint Commission of Bilateral Cooperation of Myanmar and Sri Lanka, the second of its kind in Colombo, has paved the way for promoting bilateral cooperation between the two countries, especially in economy, trade and anti-terrorism.

The two sides agreed to seek the possibility of removing the existing trade barriers stemming from the absence of direct sea and air links.

Sri Lanka proposed Myanmar to introduce Asian currency units as a favourable solution to the currency problem.

To study the existing trade barriers and to further propose remedies, both sides plan to set up a working group.

Myanmar businessmen from the Chambers of Commerce and Industry, accompanying Foreign Minister U Nyan Win at the joint commission meeting from August 3 - 4, were invited to explore the possibility of investing in Sri Lanka, while taking the advantage of the benefits granted under Sri Lanka's bilateral free trade agreements with India and Pakistan.

The two sides agreed to the Memorandum of Understanding on tourism endorsed during President Mahinda Rajapakse's visit to Myanmar in June this year. It represents a new chapter in the sector.

The two sides also renounced terrorism in all forms and manifestations, agreeing to jointly combat terrorism.

Noting that terrorism is a threat to regional peace and security and an obstacle to regional cooperation, the Sri Lankan side held that despite the military defeat of the Liberation Tigers of Tamil Eelam (LTTE) in Sri Lanka, the activities of the LTTE network overseas continue to be active, emphasizing the need to neutralize the LTTE's terrorist network overseas.

The Myanmar side also reiterated its Government policy of disallowing any group or individual to use its territory for hostile acts against Sri Lanka.

Attending the joint commission meeting on the Sri Lankan side was Foreign Minister Rohitha Bogollagama.

In June this year, President Rajapaksa paid a state visit to Myanmar on the occasion of the 60th anniversary of the establishment of diplomatic relations between the two countries.

During the visit, Myanmar and Sri Lanka signed in Nay Pyi Taw an agreement on mutual exemption of visas for diplomatic passport and service passport holders of the two countries and a memorandum of understanding on cooperation in tourism.

Moreover, the Myanmar Government made a cash donation of 50,000 US dollars as a humanitarian assistance to Sri Lanka for internally displaced people in the northern part, while Sri Lanka established and donated a village, called Mitta, in Myanmar's cyclone-hit Kungyangon township in Yangon division.

The two countries set up the JCBC in 1996 and met first in July 2007 when the Sri Lankan Foreign Minister visited Myanmar. Myanmar and Sri Lanka have recently formed a business relation group in a bid to increase their bilateral trade.

Sri Lanka has so far injected one million US dollars' investment in Myanmar since 1988, according to Myanmar statistics.

Meanwhile, indirect air link exists between the two countries via Bangkok with Sri- Lankan Airlines connecting the Bangkok flights of the Myanmar Airways International (MAI) and the Thai Airways International (TG) and transiting passengers from Yangon to Colombo.

Currently, trade between Myanmar and Sri Lanka is transacted through Singapore.

According to the Directorate of Trade under the Ministry of Commerce, Sri Lanka mainly imports forestry products and beans and pulses from Myanmar via brokers in Singapore and the country has expressed interest in also importing Myanmar gems and selling its own products in the Myanmar markets. Myanmar and Sri Lanka, which established diplomatic relations on June 7, 1949, have had cultural and religious ties since the 11th century.

Myanmar and Sri Lanka are members of the subregional grouping of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) which also comprises Bangladesh, India and Thailand.YANGON, Xinhua