Win Myint, chairman of the Union of Myanmar Chamber of Commerce and Industry (UMCCI), Thursday expressed the hope that China's investors will become more active in the economic and trade activities in Myanmar.

Speaking at the second China-ASEAN Business and Investment Summit, the official said China is currently the third largest trade partner of Myanmar after Thailand and Singapore.

Especially during the past few years, Win said, bilateral trade is developing with great momentum.

According to the statistics from the Myanmar Ministry of Commerce, the value of trade between the two countries reached 1.15 billion US dollars in 2004, accounting for 15.1 percent of Myanmar's total foreign trade.

China promised at the second Great Mekong Subregion Summit Meeting in July this year to raise bilateral trade to 1.5 billion US dollars in the next three to five years. And Win said he firmly believes that this goal will be surely achieved.

Along with the building of the China-ASEAN Free Trade Area in 2010, the world's largest free trade zone composed of developing countries with 1.8 billion consumers will also bring infinite commercial opportunities to the ASEAN member countries.

Win said though China has great potentials in overseas investment, its total investment in Myanmar is still very low. At the end of 2004, only 22 China's companies build factories in Myanmar, with the total capital of about 130 million US dollars.

The official said on behalf of the entire Myanmar business circle, he sincerely hoped that an increasing number of China's enterprises will make their investment in the country, bringing the local economy with more vitality.

Source: Xinhua