Myanmar leader praises on China development, Sino-Myanmar friendly relation

Secretary-1 of Myanmar State Peace and Development Council U Tin Aung Myint Oo highly praised at the reception, hosted by Chinese Ambassador to Myanmar Ye Dabo, on the rapid development of China and Sino-Myanmar friendly relations.

At the reception to celebrate the 61st Anniversary of the Founding of the People's Republic of China, U Tin Aung Myint Oo looked at the displayed photos of Shanghai World Expo and significant development of China within 61 years.

Present on the occasion were other Myanmar high-ranking officials, diplomats in Yangon, representatives of overseas Chinese and representatives of Chinese companies in Myanmar.

In his speech, Ye Dabo said that the exchanges of high-level contacts over the past 20 months, including exchanging visits by the two countries' leaders, have enhanced mutual understanding and political trusts, and created favorable conditions for strengthening cooperation in all areas.

He also stressed that facts have proved that China-Myanmar economic and trade cooperation is being expanded, which is mutually beneficial to both sides, adding that many projects in the areas of infrastructure, energy, transportation, communication, agricultural are testament of China-Myanmar traditional PaukPhaw ( fraternal) friendship.

According to official statistics, in 2009, China-Myanmar bilateral trade totaled 2.907 billion U.S. dollars.

Up to January 2010, China's investment in Myanmar amounted to 1. 848 billion dollars, accounting for 11.5 percent of Myanmar's then total foreign investment. In the month of May, China made a huge investment in Myanmar with a total of 8.173 billion dollars including Hong Kong's 3.143 billion dollars, bringing China's total investment in Myanmar to 10 billion dollars up to May this year since the country opened to such investment in late 1988, the Myanmar official statistics reveal.

Source:Xinhua