SOUTH KOREANS ARE COMING

MYANMAR,ROK SIGNED MOU ON DEVELOPMENT COOPERATION

President of the Republic of the Union of Myanmar U Thein Sein met President of the Republic of Korea Mr. Lee Myung-bak at Blue House in Seoul,ROK at 5 pm local time today and held discussions on matters related to mutual benefits.

Also present at the call together with the President were the Union Ministers,the Chief Ministers,Deputy Ministers,the Ambassador to ROK and departmental heads.Together with the President of ROK,the Minister of Foreign Affairs and Trade,The Minister for Knowledge Economy,the Ambassador of the ROK to Myanmar and senior officials attended the meeting.

Next,a signing ceremony followed.nion MInister for Foreign Affairs U Wunna Maung Lwin and the Minister of Foreign affairs and Trade of the ROK signed aid

agreement and Union Minister for Industry U Aye Myint and the Minister of Foreign Affairs and Trade of the ROK,MoU on development cooperation in the presence of the two leaders and exchanged notes. - MNA

CO-OPERATION IN SMEs TO SERVE INTERESTS OF MYANMAR,SOUTH KOREAN PEOPLES

President U Thein Sein addressed a luncheon hosted by the Korea Federation of Small and Medium Business (KBIZ) at Lotte Hotel of Seoul in South Korea this afternoon.

Also present at the luncheon together with the President were Union Ministers,region Chief Ministers,Deputy Ministers and delagation members. IT was also attended by the Chairman and members of KBIZ,officials of Federation of KOrea Industries (FKI),Korea Chamber of Commerce and Industry(KCCI) and Korea International Trade Association and guests.

Chairman Mr. Kim Ki Moon of KBIZ extended greetings.

The President said in his address that he visited South Korea at the invitation of

South Korean President Mr Lee Myung-bak and it is the first-ever goodwill visit of aleader of Myanmar during 25 years. The two countries established diplomatic relations since 1975,he said. The friendsahip and mutual cooperation improved the mutual relations after the establishement of diplomatic ties,he said.

Coming across various historical experiences like Myanmar,South Korea is achieving development in all sectors,he aid.Not only East Asdian countries but the world nations are inspired by achievement of rapid growth by South Korea and its hard-working people,he said.

The President un derscored the need to extract hijghest productivity of all citizens and found Inclusive Economic Institutions that could independently make business decisions without giving any space for oligarchy. The emergence of Inclusive Economic Institutions with the participation of all political forces in the political process could bring about the economic development and make democracy well entrenched in Myanmar,he said.The President President said he believed that the emergence of inclusive economic institutions is important.

The entrepreneurs and small and mediumentrepreneurs in Myanmar's economy who had lacked contacts with internationalk ecnomic community need to initiate necessary economic reforms in cooperation with Korean entrepreneurs who are in touch with the international community.

He hoped for the help of KBIZ extended to small and medium enterprises of Myanmar to get ready trhemselvesd to tap opportunites and tackle challenges stemmed from foreign investments that would be made in Myanmaar followng political and economic developments of the country.

The government established SME Centers for adopting necessary polocies and conducting research and SME Bank was established for dealing with monetary matters in running SMEs,he said. He thanked the South KOrean government for its pledge to open a KDI.

Through cooperation in SMEs,the interests of the peoples would be served,he said.

Chairman of Myanmar Investment Commission Union Minister U Soe Thein and the KBIZ Chairman exchanged notes of MoU on SME development. The President and those present had the lunch.

The President paid floral tribute at National Cemetery in Seoul in the evening and signed in the visitors' book. - MNA

BUSINESS MEETING WITH GWANG-MYEONG KOREA TRADE MISSION

One to one Business meeting was held with Gwang-myeong Korean Trade Mission

at Mingalar Hall,Kandawgyi Palace Hotel on 12w Oct 2012 from 09:30 am to 4:00 pm staged by KOTRA.

It was a very promising event.

AIKANG GREENTECH CO. LTD.,UDI ENGINEERING CO. LTD.,TAESAN ENGINEERING & CONTROL LTD.,MASTER SYSTEM CO. LTD. etc. are willing to invest in Myanmar and to give agency in Myanmar.He who has interest on it please contact KOTRA Yangon.