Singapore president on state visit to Myanmar

Singapore President Tony Tan Keng Yam is expected to arrive in Myanmar on the first visit by a Singapore president since both countries established ties in 1966.Local media said the five-day visit, at the invitation of Myanmar President Thein Sein, marks the deepening ties between the two countries since the reform-minded former general assumed his position in 2011.The visit also reinforces the importance of Myanmar as potential new market for Singapore, as Tan is expected to officiate at the opening of an overseas center of the city state's trade promotion agency International Enterprise (IE) Singapore.The opening of the center will also be a highlight of the Singapore-Myanmar Business Forum that starts on Thursday, the agency said.More than 100 government and business leaders from both countries are expected to attend the forum to explore cooperation opportunities in industries such as infrastructure, telecommunications and hospitality.The forum is backed by both countries' key business chambers, including the Singapore Business Federation and the Union of Myanmar Federation of Chambers of Commerce and Industry.The Singapore Business Federation is leading a delegation of 32 chief executive officers to Myanmar this week.The multiple events reflect a "surge of interest" in Myanmar, which has been called Asia's last investment frontier, International Enterprise Singapore said.Singapore is Myanmar's third-largest trading partner, with bilateral trade topping 1.8 billion Singapore dollars (1.4 billion U.S. dollars) last year, and its sixth-largest source of foreign direct investment, with a cumulative foreign direct investment of 4.4 billion Singapore dollars (3.5 billion U.S. dollars) in 2011.Tan will visit three cities such as the capital Naypyidaw, Mandalay and the main business city Yangon.He will call on and be hosted to a state banquet by Thein Sein, the Ministry of Foreign Affairs said. He is also expected to meet Speaker of the Lower House of Parliament Shwe Mann and Aung San Suu Kyi, leader of the opposition National League for Democracy.Myanmar has introduced sweeping political and economic reforms since Thein Sein's administration took over. It is expected to assume the rotating chairmanship of the Association of Southeast Asian Nations (ASEAN) next year.There have been a growing interest in Myanmar from Singapore's business community, and many of them have visited Myanmar as members of business delegations.