Yangon, May 27: Japan has opened negotiations with Myanmar on an investment agreement, the trade ministry said.
“Since many Japanese private companies are trying to do business with Burma (Myanmar), we want to reach the agreement as soon as possible,” Mizzima News quoted an official as saying.
The earliest possibility for an agreement would be in November during a summit of the Association of Southeast Asian Nations (ASEAN) and Japan in Cambodia, the ministry said.
The US and EU have eased most sanctions against Myanmar, except for arms sales.
In April, Japan said it will forgive $3.7 billion Myanmar debt. It has also resumed aid to support the country’s democratic and economic reforms.
Japan has donated $10.6 million to the UN World Food Programme to fight hunger in Myanmar.
Myanmar’s reformist quasi-civilian government took office a year ago and has started overhauling the economy, easing media censorship, legalizing trade unions, freeing political prisoners and agreeing to ceasefire with ethnic minority rebels.