Japan seeks to get in on act investing in Myanmar
TOKYO: Japan will start negotiations on an investment treaty with Myanmar on Wednesday, the trade ministry said, as corporations around the world scramble to do business in one of the last frontier markets in response to encouraging political reforms.
The earliest possibility for an agreement would be a November summit of the Association of South East Asian Nations (ASEAN) and Japan in Cambodia, although the trade ministry said there was no pre-set schedule.
“Since many Japanese private companies are trying to do business with Myanmar, we want to reach the agreement as soon as possible,” a ministry official said.
Japan, which occupied Myanmar, then known as Burma, from 1942-45, will seek most-favoured-nation status, meaning Myanmar will have to grant Japan at least as favourable conditions it grants other nations, the official said. reuters