Myanmar and South Korea will cooperate in a project of "Specialized Complex of Agriculture" under mutually beneficial basis to boost the development of Myanmar's agriculture, a local weekly reported in its latest issue.

Discussions have been conducted over the move between the Myanmar Agriculture Department, the Chonnam National University and the KBH Company of (South) Korea during a recent visit to Yangon by the South Korean representatives, the Flower News quoted the Myanmar department as saying.

The project covers undertaking agricultural research, human resources development, growing of agricultural crops on commercial scale for export, dissemination of agricultural technique to Myanmar experts and exchange of information and communications technology through online system, the report said.

Meanwhile, the South Korean International Cooperation Agency ( KOICA) will also fund Myanmar's development programs with 2 million U.S. dollars during this year, an earlier release of the South Korean Embassy said.

Those programs cover the sectors of health, agriculture, electric power and rail transportation.

Since 1988, KOICA has sent 70 volunteers to Myanmar for exchanges in agriculture, language and sports with Myanmar experts, while inviting 700 Myanmar staff to South Korea for training.

The KOICA is also conducting a survey on building a railroad to link Myanmar and Thailand, which will be constructed in southern Myanmar, extending from Mon state's Yay township to Thailand.

According to official statistics, South Korea's investment in Myanmar had exceeded 190 million U.S. dollars as of 2005 since the country opened to foreign investment in late 1988. The investment involved about 100 Korean companies in 34 projects.

The statistics also show that the two nations' bilateral trade amounted to 127.14 million dollars in the fiscal year 2004-05 with Myanmar's exports to South Korea accounting for 36.86 million dollars and its imports from South Korea taking 90.28 million dollars.

Source: Xinhua