Singapore, Myanmar to start talks on investment treaty

Prime Minister Lee Hsien Loong presents Myanmar state counsellor Aung San Suu Kyi with a photo of his father, Mr Lee Kuan Yew, meeting her mother Daw Khin Kyi in 1965.
Prime Minister Lee Hsien Loong presents Myanmar state counsellor Aung San Suu Kyi with a photo of his father, Mr Lee Kuan Yew, meeting her mother Daw Khin Kyi in 1965.ST PHOTO: LIM YAOHUI
Prime Minister Lee Hsien Loong hosted a dinner for Myanmar state counsellor Aung San Suu Kyi on Wednesday (Nov 30).
Prime Minister Lee Hsien Loong hosted a dinner for Myanmar state counsellor Aung San Suu Kyi on Wednesday (Nov 30).ST PHOTO: LIM YAOHUI
Myanmar state counsellor Aung San Suu Kyi speaks during a dinner hosted by Prime Minister Lee Hsien Loong on Wednesday (Nov 30).
Myanmar state counsellor Aung San Suu Kyi speaks during a dinner hosted by Prime Minister Lee Hsien Loong on Wednesday (Nov 30).ST PHOTO: LIM YAOHUI
Myanmar state counsellor Aung San Suu Kyi speaks during a dinner hosted by Prime Minister Lee Hsien Loong on Wednesday (Nov 30).
Myanmar state counsellor Aung San Suu Kyi speaks during a dinner hosted by Prime Minister Lee Hsien Loong on Wednesday (Nov 30).ST PHOTO: LIM YAOHUI
Her Excellency Daw Aung San Suu Kyi pays a courtesy call on Prime Minister Lee Hsien Loong at the Istana on Nov 30, 2016, during her official visit to Singapore.
Her Excellency Daw Aung San Suu Kyi pays a courtesy call on Prime Minister Lee Hsien Loong at the Istana on Nov 30, 2016, during her official visit to Singapore.ST PHOTO: LIM YAOHUI

SINGAPORE - Singapore and Myanmar will begin discussions on a bilateral investment treaty and begin to update its agreement on avoidance of double taxation, in a sign of growing economic ties between the two countries.

This move will send a positive signal to investors and boost economic growth, said Prime Minister Lee Hsien Loong on Wednesday (Nov 30).

Mr Lee made the announcement at a dinner which he hosted for Myanmar state counsellor Aung San Suu Kyi, who is here until Friday on an official visit.

Both leaders, in toast speeches at the official dinner in the Istana's ballroom, talked about bilateral ties.

Mr Lee said that Singapore has been a long-standing and steadfast friend of Myanmar and is confident in Myanmar's long-term success.

This confidence can be seen in their strong economic ties and growing trade and investment into Myanmar, he added.

 
 

Links between both countries' people are also strong and growing, and are set to increase with the mutual lifting of visa requirements on Thursday.

Singapore is glad to help Myanmar train its officials, and is also happy to share its experience of building and running hawker centers, said Mr Lee, who visited Myanmar in June.

Myanmar is looking to upgrade its wet markets and build a hawker centre in Yangon, and Ms Suu Kyi will visit a hawker centre on Friday.

"We are happy to share our experience and persuade our hawkers to divulge some of their secret recipes of chwee kueh, chye tow kueh, chicken rice and laksa," he said with a laugh.