Continued economic reform in Myanmar would encourage Canadian companies to invest in Myanmar, said Mr Fast in an interview in Yangon on August 28 during which he praised the government's economic, social, political reforms.

“I can go back [to Canada] and say [Myanmar] continues to progress and move toward peace and undertake significant economic reforms,” he said. “I can say, 'you need to look at Myanmar as a brand new opportunity to invest.'”

Mr Fast said Canada's newly established Trade Commissioner Service would help the country's companies identify trade and investment opportunities.

He was speaking at a media briefing at the Canadian embassy at the end of his second visit to Myanmar as trade minister, during which he attended the third ASEAN Economic Ministers-Canada Consultations on August 27.

A “transparent” business environment with impartial regulations would increase the number of companies globally that want to invest and trade in ASEAN and Myanmar, said Mr Fast.

“We [the Canadian government] encourage Myanmar ministers to continue on that path,” he said.
 
“The future appears very bright for Myanmar.”

Although there was no Canadian direct investment in Myanmar or Myanmar direct investment in Canada during 2013, Mr Fast said he was hopeful Canadian companies would tap into Myanmar's mining and energy sectors.

He declined to comment on the experience of Canada's Ivanhoe Mines - which was heavily criticised by Canadian human rights groups for its dealings with the previous regime before relinquishing its holding in the Latpadaung copper mine in Sagaing Region in 2007.

The Canadian government “expects” Canadian businesses to conduct business abroad “in accordance with the highest ethical and environmental standards,” said Mr Fast.

“[The Canadian government] also expects [Canadian businesses] to reinvest in the communities in which they do business,” he said.

Among the sectors presenting the greatest opportunities for Canadian investors was agriculture, said Mr Fast, who highlighted Canada's expertise in agricultural technology, including cold and dry storage.