Speaker of the Assembly of the Union of Myanmar Thura U Shwe Mann will pay an official visit to Vietnam starting Friday, the National Assembly’s External Relations announced Wednesday.
The five-day visit, from September 5-9, will be made at an invitation of Vietnamese National Assembly Chairman Nguyen Sinh Hung, who visited Myanmar in July 2013 to enhance ties between the two nations’ legislative bodies.
Shwe Mann, who took over the position of Union Parliament speaker from the Upper House Speaker Khin Aung Myint on July 31, 2013, is also chairman of the ruling Union Solidarity and Development Party (USDP).
Vietnam and Myanmar have seen a considerable increase in bilateral trade and investment relations in recent years, especially after the State visit to Myanmar by Vietnamese Prime Minister Nguyen Tan Dung in August 2007.
The two nations have taken many measures to promote cooperation in a wide range of fields from agro-forestry, aquaculture, transport and energy to health care and culture.
According to the Vietnam’s General Statistics, Vietnam’s export to Myanmar reached $117.8 million in 2012 and nearly $228 million in 2013. In the first four months of this year, the country sold $103.2 million worth of goods to Myanmar, up 46.29 percent year on year.
The two countries are targeting to raise their bilateral trade turnover to $500 million in 2015.
Vietnam is targeting over $1 billion in investment in Myanmar by 2015 and $2-2.5 billion by 2020, the Vietnam News Agency said.