President U Thein Sein and other leaders discuss global economy at G-20 Summit

President U Thein Sein attends dinner hosted by Australia-Myanmar Chamber of Commerce at Gabba on Vulture Street in Australia.—MNA

Brisbane, 16 Nov — President U Thein Sein on Sunday took part in plenary and other sessions on the second and final day of the G-20 Summit in the eastern Australian city of Brisbane.
The world leaders discussed the global economy and energy at the event.
In the afternoon, the president also attended working sessions on global economic resilience.
He then met with Bill Shorten, leader of opposition Labour Party, at the Brisbane Convention and Exhibition Centre, and discussed bilateral relations, education in Myanmar and labour affairs.
In the evening, President U Thein Sein joined a dinner hosted by the Australia-Myanmar Chamber of Commerce at the Gabba on Vulture Street.
At the event, the president said that Myanmar is one of the new economic zones in Asia due to its strategic location together with its capable workforce and the reforms being implemented by the government.
Australia lifted sanctions against Myanmar in the tourism and financial sectors in April 2012.
The trade volume between the two countries has increased by 38.2 percent, amounting to US$130 million.
Australia is the 20th largest foreign investor in Myanmar, with total investments of US$23.5 million, among 30 foreign investor countries in Myanmar.
U Thein Sein also said that his administration intends to cooperate more with Australia in the banking, energy, hotel and tourism and human resource sectors. The Australia and New Zealand Banking Group Limited (ANZ) has been licensed in Myanmar.

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