Japan Parliament Approves Investment Pact with Myanmar

Tokyo, June 13 (Jiji Press)--Japanese parliament approved a bilateral treaty with Myanmar Friday to liberalize and protect investment between the two countries. The treaty calls on Myanmar to create the same investment environment for domestic and Japanese companies in an effort to help Japanese businesses enter the Southeast Asian country, considered a promising market due to its economic reforms. The House of Councillors, the upper chamber of parliament, approved the treaty at a plenary session. It is expected to come into effect soon, as the House of Representatives, the lower chamber, has already passed it while Myanmar has already completed its approval procedures. Parliament also approved Japan's investment treaties with Saudi Arabia and Mozambique. END