Myanmar finds New Southern Policy promising

President Moon Jae-in’s New Southern Policy is expected to help bolster Korea’s relationship with Myanmar on the occasion of the latter’s 71st anniversary of independence, according to Myanmarese Ambassador to Korea Thura Thet Oo Maung.

He encouraged Korea to invest in his country, stressing it is a “very new player in the market economy scene.”

“Since the Korean government is emphasizing to strengthen diplomatic and economic ties with ASEAN countries, Korean entrepreneurs are seeking new opportunities in the ASEAN region,” the envoy said during a reception in Seoul last week to mark Myanmar’s independence on Jan. 4, 1948. “I believe that President Moon Jae-in’s New Southern Policy ... will become a huge drive to boost the relationship with Myanmar.”

Moon introduced his New Southern Policy in 2017, to strengthen Korea’s relationship with ASEAN and India to the same level as four stakeholders on the Korean Peninsula — the United States, China, Japan and Russia.

Its focuses on people, prosperity and peace, that collectively form “3P” pillars.

Commenting on the reforms in the investment sector, the ambassador said he welcomes Koreans to invest in a wide range of fields, including labor, agriculture, livestock, power, education, health, and housing and industrial estates.

He also encouraged Korean tourists to visit Myanmar, highlighting the country’s one-year visa exemption exclusive for Koreans since October last year.

Maung said the number of Korean arrivals has risen by 30 percent since the program was introduced.

“I would like to take this opportunity to invite my Korean friends to visit Myanmar to see our natural and cultural beauty,” he said.

He thanked Korea for its construction of the Myanmar-Korea Friendship Bridge, which began in December 2018 with a loan from Korea’s Economic Development Cooperation Fund.

“It is a great contribution to facilitate better transportation and trade flow among the Yangon and Ayeyarwaddy regions, and Rakhine State in Myanmar,” he said. “This bridge will be a historic milestone in our bilateral relations and cooperation, and we appreciate the Korean government’s assistance in the development process of infrastructure in Myanmar.”