The presidents of Burma and Vietnam have pledged to increase annual bilateral trade to US $500 million by 2015.The current level of trade is little more than half that figure. According to Burma’s Ministry of Commerce, trade between April 1 and August 14, 2012, stood at $114 million with some $67 million of that amount in Burmese exports.

Concluding an official visit to Burma by Vietnamese President Truong Tan Sang and his wife from November 29 to December1, the presidents of both nations issued a joint statement pledging their commitment “to continuously creating favourable conditions for enterprises of both countries to explore the investment environment of each country, hence increasing investment flows between [the] two countries.”

The two Southeast Asian leaders expressed their satisfaction over new developments in potential sectors such as: agriculture, the cultivation of industrial crops, aqua-product cultivation and processing, healthcare, telecommunications, and tourism.

They announced that they had agreed on the importance of the Mekong River Commission mechanism, particularly in its management and sustainable use of the Mekong’s water resources for the benefit of each country and the region.