Two major Indonesian banks are planning to open offices in Myanmar to help promote bilateral trade relations between Indonesia and Myanmar, the local Flower News quoted the Indonesian Embassy as reporting Monday.

The report did not name the banks intending to make the move.

Entrepreneurs from Myanmar and Indonesia have been seeking bilateral economic and trade cooperation with an Indonesian economic delegation having met with businessmen from the Union of Myanmar Federation of Chambers of Commerce and Industry in Yangon in February this year to discuss further prospects for such cooperation.

The Indonesian entrepreneurs were made up of those from various sectors such as foodstuff, textile, construction materials, furniture, handicraft, mines, medicine and medical equipment, cosmetic, airline and lubricant,

As part of their efforts to boost bilateral economic and trade cooperation, Myanmar and Indonesia have sought direct trade link, direct banking transaction and direct Yangon-Jakarta air link.

So far, the two countries are trading through Malaysia, carrying out banking transaction through Singapore and connecting without direct air link.

Indonesia has established the first direct sea trade route with Myanmar operating between Jakarta and Yangon in a bid to broaden its network in the Southeast Asian region. The route enables Myanmar export goods to be shipped directly to Indonesia without requiring to transit through intervening ports.

Direct trade link between Bandung and Yangon is also being sought.

Indonesia is Myanmar’s fourth largest trading partner among members of the Association of Southeast Asian Nations (ASEAN) after Thailand, Singapore and Malaysia, having a bilateral trade with Myanmar standing 178.8 million U.S. dollars in the fiscal year of 2009-10 which ended in March. Indonesia’s exports to Myanmar amounted to 140.8 million dollars, while its imports from Myanmar were valued at 38 million dollars, according to Myanmar official statistics.