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South Korea and Myanmar have agreed to establish a joint economic cooperation
committee intended to solidify their partnership in business and economic
sectors, the finance ministry said Friday.
The agreement was made on Thursday between South Korea's Finance Minister Bahk Jae-wan and his Myanmarese counterpart Kan Zaw during a meeting in Nay Pyi Taw, the capital of Myanmar, also known as Burma, according to the ministry.
Both agreed to hold their first committee meeting during the first half of this year in Myanmar, the ministry said.
During the talks, Bahk highly praised the markedly improved relations between the two countries and underlined the need for pan-governmental support in order to back up the ties down the road, according to the ministry.
Kan Zaw was also quoted as thanking the South Korean government for providing continued support for his country, hoping that the establishment of the committee could help both countries work harder to upgrade their bilateral ties.
Bahk's visit to Myanmar is part of his travel to Southeast Asian countries in order to strengthen cooperation with emerging countries in the region. He later visited Vietnam to hold a ministerial meeting with his counterpart there.
During the meeting held in Hanoi with his Vietnamese counterpart Vuong Dinh Hue on Friday, Bahk proposed working together with the country on diverse fronts including taxation and government procurement-related affairs, the ministry said.