Construction of a new highway linking Teknaf, Bangladesh, to former Arakan State capital Akyab in Burma will start in January. This coincides with new flights routes from Dhaka to Yangon, according to Myanmar Ambassador Myo Mint Than.
Myo Mint Than made the announcement at the Chittagong Metropolitan Chamber of Commerce and Industry (CMCCI) conference hall in Chittagong on Nov.29. The ambassador, joined by HM Hakim Ali, the honorary consul of Burma in Chittagong, exchanged views with business leaders on shipping routes, business and working out the bugs affecting trade between the two countries.
“Burma is now inviting investment from Bangladeshi businesses and industrialists in different fields.”
Trade between Burma and Bangladesh has re-started after border trade ground to a halt following sectarian violence between Buddhists and Muslims that erupted in Arakan State in June.
The ambassador said the country “has become attractive for investment and high-level officials of Burma and Bangladesh are conducting useful dialogues to help strengthen trade relation”. But the new investment policy will not hurt: “domestic interests and (uphold) dignity and sovereignty, while protecting the environment..(ensuring) equal opportunities for all investors”.
“Financial transactions are yet to be facilitated through direct letters of credit (LCs) between the two countries and the current LC transactions through a third country will be discontinued shortly after working out the necessary formalities.”
Two Sonali Bank and AB Bank branches have already been set up in Burma to assist the new business initiatives. The Teknaf border check port will also be expanded to handle the increased flow of exported goods from Burma.
