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| Myanmar Ambassador to South Korea Thant Sin says his country will have a lot to promote as Asia's 'last frontier market' during the Mekong-Republic of Korea (ROK) Summit in Busan, Nov. 27, and on the 45th anniversary of bilateral relations in 2020. / Korea Times photo by Choi Won-suk |
This is the eighth and the last in a series of interviews with ASEAN ambassadors on the occasion of the 30th anniversary of ASEAN-South Korea relations. Two of the 10 ASEAN ambassadors ― from Brunei and Laos ― declined to be interviewed. ― ED.
By Yi Whan-woo
Dubbed as Asia's "last frontier market," Myanmar has the most favorable circumstances possible to promote itself as an attractive investment destination for South Korea.
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Both meetings will be in Busan as part of the celebrations for the 30 years of dialogue relations between the 10-member ASEAN and South Korea.
The second summit is expected to discuss how to close the gaps between the richer members of ASEAN and those still in the early stages of development ― Cambodia, Laos, Myanmar and Vietnam, collectively labeled as CLMV.
All four are from the Mekong sub-region. Their rapid economic growth rate hovers around 6 percent to 7 percent annually.
Myanmar also borders with China and India, making it the only CLMV country to be a part of the region's two largest trans-national economies ― the Greater Mekong Sub-region (GMS) and the Bangladesh-China-India-Myanmar (BCIM) Economic Corridor.
"This year marks a milestone in our cooperation as we have been able to elevate Mekong-Korea cooperation to a summit level," Myanmar Ambassador to South Korea Thant Sin recently told The Korea Times.
The Foreign Ministerial Meeting was previously the highest-level engagement between the two sides.
"The Mekong-ROK Summit will definitely raise awareness toward Myanmar as an attractive investment destination ― our two countries have great potential to promote existing cooperation particularly in the investment and trade sectors," Ambassador Sin said.
Myanmar will also promote investment opportunities next year, when it marks the 45th anniversary of its diplomatic relations with South Korea.
The Southeast Asian country's workforce accounts for about 60 percent of its 52.8 million population.
Its cheap labor costs ― a third of China's and two-thirds of Vietnam's ― make Myanmar "the world's next factory."
A resource-rich state, Myanmar has 17 trillion cubic meters of natural gas, 3.2 billion barrels of crude oil, 17 rare elements, metallic minerals and gemstones including copper, iron ore, zinc, rubies and sapphires, as well as shrimp and other seafood.
"Our two countries have enjoyed friendly and cooperative relations since establishment of diplomatic ties," Sin said. "There exists a greater potential to expand our cooperation and we should utilize this opportunity to further strengthen our relations through various activities to mark this anniversary in both capitals."
Ambassador Sin has been serving in Seoul since March. He is also on a six-month rotating term until December as the dean of the 10 ASEAN ambassadors here.
Myanmar's sustainable development plan
A former socialist economy, Myanmar has been speeding up its economic reform after five decades of military rule ended in 2011 to make way for civilian government.
The latest reform efforts include the Myanmar Sustainable Development Plan (MSDP), a vision outlined by the country's State Counsellor Aung San Suu Kyi in December 2018 to transform the economy by 2030.
Ambassador Sin said President Moon Jae-in's New Southern Policy could facilitate a "win-win" situation" with the MSDP.
The envoy pointed out that building a community of peace, prosperity and people has been a shared value between the MSDP and the New Southern Policy.
"We believe the New Southern Policy will add new momentum to further strengthen our bilateral relations," he said.
About 200 South Korean firms, including Hyundai Motor, POSCO and Shinhan Bank operate in Myanmar.
Bilateral trade in 2018 amounted to $1.07 billion, the seventh largest among ASEAN.
During his state visit to Myanmar in September, President Moon promised to share South Korea's expertise in economic success to help Myanmar lay the groundwork for manufacturing and other industries.
He highlighted two major joint projects ― the Korea-Myanmar Industrial Complex (KMIC) and the Korea-Myanmar Friendship Bridge.
Located in Myanmar's largest city Yangon, the 225,000 square kilometer, $111.3 million KMIC will have roads, water management system, high-speed internet and other infrastructure essential to run plants when it is completed in 2024.
It will also feature a smart city, solar power and other sustainable technologies, as well as offering tax exemptions and other economic benefits.
The project is anticipated to create up to 100,000 jobs.
The Korea-Myanmar Friendship Bridge is being built to connect Dala across the Yangon River.
The bridge, which is scheduled to be completed in 2022, is expected to help boost development and living standards in Dala, one of the region's least developed areas.
As part of efforts to bolster people-to-people exchanges, Myanmar has waived visas for South Korean tourists since October 2018.
The number of South Korean arrivals reached 59,658 in the first half of 2019, up 84 percent from the same time period in 2018.
Regarding peace and denuclearization on the Korean Peninsula, Ambassador Sin said Myanmar has been "striving to achieve national reconciliation and peace" and that "we fully understand the difficulties and the ROK's efforts to achieve long-lasting peace in the Korean Peninsula."
Myanmar is undergoing a peace process to relieve internal armed conflicts involving 18 ethnic groups.
The country has a monument in Yangon for the South Korean victims of the 1983 Rangoon bombing.
This was an assassination attempt by North Korea against then South Korean President Chun Doo-hwan in Rangoon, which is now called Yangon.
Myanmar severed ties with North Korea over the deadly incident, before restoring them in 2007.
"We wish to see a stable and prosperous Korean Peninsula … We believe dialogue and consultation are the best way for peaceful resolution of any dispute, Ambassador Sin said.
Asked about the mass displacement of Rohingya Muslims, he argued that the issue has been "mischaracterized as religious discrimination."
An icon of Myanmar's democracy and Nobel Peace Prize winner, Aung San Suu Kyi has been criticized by other international leaders and activists who once supported her, for not stopping the crackdown as the country's de facto leader.
Ambassador Sin referred to the Rohingya issue as "one of the many challenges facing Myanmar in her complicated transition."
"In fact, it is a political and economic issue involving cross-border migration since colonial times," he said, adding his government is "fully committed to finding a sustainable solution that will lead to peace, stability and development" for all affected communities.
