South Korean Trade Minister Kim Hyun-chong has met with State Counselor Aung San Suu Kyi and discussed measures to pace up economic cooperation between the two countries. Both sides shared a vision for cooperation and bilateral economic development during a meeting held in Myanmar’s capital Naypyidaw on April 23, 2018.
Kim said “South Korea’s experience in developing its economy can help Yangon grow its economy with the fewest complications. It is important for Myanmar to strive for the development of both its traditional manufacturing sectors and its futureoriented industries and that Seoul is willing to provide technology and manufacturing knowhow. South Korea is interested in the special economic zone being built north of the capital city”.
Kim also asked for the country to review some of its rules about small cars to permit South Korean investors to implement joint ventures for the assembly of semi-knockdown vehicles. This would allow South Korean auto manufacturers to avoid expensive import duties and contribute to the development of car industry in Myanmar.
Aung San Suu Kyi expressed intentions of Myanmar to increase its overall industrial capacity while fostering promising industries with global competitiveness. It is the frst time visit by a ministeriallevel offcial from South Korean to the country under President Moon Jae-in, which seeks to enhance cooperation with Southeast Asian countries through its New Southern Policy initiative.
