S. Korean president to pay state visit to Myanmar

2019-08-25 08:38:21 GMT2019-08-25 16:38:21(Beijing Time) Xinhua English

YANGON, Aug. 25 (Xinhua) -- South Korean President Moon Jae-in will pay a state visit to Myanmar soon at the invitation of his Myanmar counterpart U Win Myint, the Myanmar government said in a media announcement on Sunday.

Myanmar and S. Korea have been making efforts to enhance their economic and trade cooperation and have coordinated to establish an industrial zone for Korean companies investing in Myanmar.

According to official statistics, S. Korea's investment in Myanmar totalled 3.69 billion U.S. dollars in 175 projects as of the end of June 2019 since Myanmar opened to foreign investment in late 1988, standing the sixth in Myanmar's foreign investors' line-up.

Bilateral trade between Myanmar and South Korea reached 713.5 million U.S. dollars in 2018-19 fiscal year as of June from October 2018, of which export took 380.08 million U.S. dollars, while import shared 333.42 U.S. million dollars.