YANGON, May 7 (Xinhua) -- Myanmar and France have agreed to enhance trade, technical and investment cooperation between major business organizations of the two countries, the official media reported on Sunday.
According to a memorandum of understanding (MoU) signed between the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and French-Myanmar Chamber of Commerce and Industry in Yangon Saturday, Myanmar exports will get a better access to France, which will also be a base for extending Myanmar's trade with the European Union (EU).
Under the MoU, Myanmar will also have access to French technological aid and investment which will help Myanmar produce value-added goods.
Business leaders from Myanmar said they preferred to invite France's long-term investment to support development of their country.
The two business organizations will also cooperate in holding trade fairs and introducing business tours, the MoU said.
According to statistics, the French investment in Myanmar reached 542 million U.S. dollars as of March this year since late 1988, ranking the 12th in the country's foreign investors line-up.
France pledged 200 million euros (266 million U.S. dollars) in development aid to Myanmar in June last year.
