Monday, May 7, 2012

Burmese business conference planned

Monday, 07 May 2012 14:13 Mizzima News

(Mizzima) – Rangoon and Mandalay will hold a business conference combining entrepreneurs from Europe and Asia, local media reported on Thursday.

The fifth “Myanmar Business Conference” is scheduled for May 15, said the Voice Weekly News.

The conference for entrepreneurs from two continents will be the first one held since 1994, the newspaper said.

The Union of Myanmar Federation of Chambers of Commerce and Industry office. Photo: MIzzima

Businessmen from the United States, Germany, Britain, Japan, Italy, Australia, Singapore, Malaysia, Thailand and Indonesia will discuss economic, trade and investment cooperation.

The discussions will Include specialized sectors including specifically oil and natural gas, hotels and tourism, housing estates, transportation, heavy machinery and information and technology.

The conference is also open to all Burmese companies interested in developing relationships with foreign companies.
The move will help direct deals between Myanmar entrepreneurs and their partners abroad.

Most sanctions against Burma are being suspended by the European Union for a year. The U.S., Australia, Japan, Norway and other countries have also eliminated or removed some sanctions, setting off a flood of interest in the country which has a cheap labour force compared to other countries in the region.

The U.S. has lifted sanctions to allow for humanitarian investments and nongovernmental groups to work in Burma.

In January, E.U. diplomats discussed an aid package to Burma, perhaps reaching 150 million euros. The package would be aimed at health, education, agriculture and institutional capacity building.

Observers said a key requirement would probably be full access to ethnic refugees who have fled widespread fighting and are surviving on limited aid.

The E.U. has opened a representative office in Burma to manage aid programes and promote political dialogue.

Burma activists are calling for Western governments not to ease all sanctions until all political prisoners are released, more progress is made to resolve the decades old dispute with armed ethnic groups, and more democratic reforms are here.

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