7th Joint Committee of Myanmar–Singapore holds ministerial meeting

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Union Minister for Investment and Foreign Economic Relations U Thaung Tun and Singapore’s Minister for Trade and Industry Mr Chan Chun Sing sign the Agreement on the Promotion and Protection of Investment between Myanmar and Singapore in Yangon yesterday. Photo: MNA

The 7th Joint Committee of Myanmar–Singapore Ministerial Meeting was held on 24 September 2019 at the Melia Hotel in Yangon.
The meeting was co-chaired by Myanmar’s Union Minister for Investment and Foreign Economic Relations, U Thaung Tun, and Singapore’s Minister for Trade and Industry, Mr Chan Chun Sing. A range of topics were covered – including bilateral cooperation in the investment area, SME development, aviation, agriculture, food, finance and legal services.In addition, the Agreement on the Promotion and Protection of Investment between Myanmar and Singapore was signed at the meeting. This Bilateral Investment Agreement will create a more favourable, friendly and predictable investment-enabling environment for investors from both countries. It will also further enhance the Myanmar-Singapore trade and investment relationship.
Singapore is a leading investor in Myanmar, contributing over one quarter of all Foreign Direct Investment into the country. The bilateral trade volume approached approximately US$ 3.9 billion in Fiscal Year 2017-2018, with Singapore having been one of the key trading partners of Myanmar for the past several years.
The 7th Joint Committee of Myanmar–Singapore Ministerial Meeting was attended by 70 people –including senior officials from relevant Ministries, with representatives from both Myanmar and Singapore respectively.—MNA

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