Arab Today, arab today myanmar germany see economic cultural cooperation
Last Updated : GMT 04:44:27
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Myanmar, Germany see economic, cultural cooperation

Arab Today, arab today

Arab Today, arab today Myanmar, Germany see economic, cultural cooperation

Yangon - XINHUA

Myanmar and Germany saw economic and cultural cooperation between the two countries in 2013 encouraged by German Foreign Minister Guido Westerwelles's visit to Myanmar in 2012. During 2013, the German Chambers of Commerce and Industry (GCCI) signed an agreement with its Myanmar counterpart, the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), to open its representative office in Yangon. It is the first business representative office from Europe to open in Myanmar and the new office would support Myanmar's efforts to finalize the draft of a small and medium-sized enterprises law. The move also helps German companies start business here, connecting them with Myanmar partners, offering Myanmar firms a forum to discuss any difficulties they may have in working with them. German companies have interest in Myanmar's infrastructure projects including railways and electricity supply as well as consumer products and car industry. According to official figures, bilateral trade between Myanmar and Germany amounted to 187.53 million U.S. dollars of which Germany's import from Myanmar totaled 42.98 million U.S. dollars while its export to Myanmar stood 144.55 million U.S. dollars in the fiscal year 2012-13. Germany's investment in the Southeast Asian nation amounted to 17.5 million U.S. dollars as of July 2013 since Myanmar opened to such investment in late 1988. In the cultural and educational sector, Germany-based Goethe Institute is to open in Myanmar to introduce initiatives for bilateral cultural, educational cooperation and to conduct language proficiency courses. The institute works for Myanmar-Germany cooperation in promoting sports sector through mutual exchange, conducting courses for youths and seminars of experts on German Language, sending Myanmar scholars to Germany, cultural exchange of musicians and cultural troupes and media exchange. The Goethe Institute has opened about 150 branches in 95 world countries, offering Germany's culture and arts and conducting paper-reading sessions on German's culture including language sector. Myanmar has also seen German companies running tourism industry with the aim of promoting the sector of Myanmar. Scholarship programs for Myanmar students are also planned for 2014. Germany has announced decision to resume full-scale development aid to Myanmar following that of the European Union to suspend sanctions against the country for one year. Germany is known as the second-largest donor to Myanmar after Japan.

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