A welcome ceremony for Myanmar's State Counsellor Aung San Suu Kyi in the Presidential Palace in Hanoi on April 19, 2018 (Photo: Nguyen Hung)

The statement says Prime Minister Nguyen Xuan Phuc and State Counsellor Aung San Suu Kyi noted with satisfaction the positive progress in bilateral cooperation in past years, particularly the elevation of bilateral ties to Comprehensive Cooperative Partnership in August 2017. Both sides reaffirmed to strengthen further the effectiveness of comprehensive cooperation in all areas, including trade and investment, cultural, social and educational cooperation. These efforts will enhance trust and intensified cooperation between the two countries, bringing practical benefits for the peoples.

The two sides emphasized that the exchange of visits at all levels and channels, including government to government, parliament to parliament, party to party, people to people, will enhance friendship and cooperation between the two countries. Both sides agreed that close party to party cooperation is an important pillar of bilateral ties and looked forward to the early signing of Action Plan 2018-2023 to implement the Comprehensive Cooperative Partnership. 

Vietnam and Myanmar recognized the strong development in bilateral economic cooperation: the two-way trade volume in 2017 reached nearly USD 830 million, a 51% increase compared to 2016. Vietnam has risen to become the 7th  largest foreign investor in Myanmar with 17 projects and USD 2.1 billion in registered capital. The two sides also reaffirmed the commitment to enhance cooperation and find new means to reach the two-way trade target of 1 billion USD. Both sides stressed the importance of policy provision in trade and investment and providing favorable environment for foreign investors, including Myanmar investors and Vietnamese investors. 

The two expressed appreciation of recent developments in bilateral defense-security cooperation and reaffirmed continued effective implementation of agreements reached under bilateral and multilateral frameworks.

They agreed to strengthen cooperation with a view towards promoting closer financial linkages and enhance the financial sector, including financial services. The two sides also emphasized the importance of strengthening bilateral cooperation in telecommunication and energy sector, especially in oil and gas and infrastructure sharing.

Vietnam and Myanmar reiterated to continue close cooperation in regional cooperation mechanisms in the Mekong sub-region, including the Mekong – Japan, Mekong – Korea, Mekong – Ganga, Lower Mekong Initiative as well as Greater Mekong Sub-region. Vietnam encouraged Myanmar to become an official member of the Mekong River Commission (MRC).

Leaders of both sides expressed commitment to cooperate closely to build a successful ASEAN Community with central role in the regional security architecture. Both sides reiterated the importance of maintaining peace, stability, freedom of navigation and overflight in the region