The agreement was reached at the talks in Nay Pyi Taw between Vietnam 's deputy prime minister Hoang Trung Hai and Myanmar 's vice President Thiha Thura Tin Aung Myint Oo during the former's visit to Myanmar from June 9-12.

During their talks, the two sides informed each other of political-economic situation of their countries, discussed bilateral relations and measures to boost multi-faceted cooperation between the two countries in the near future.

They shared their views on developments in Vietnam-Myanmar economic-trade relations in recent years, saying that the ties have not yet matched with the political ties and potential for cooperation between the two countries.

Deputy PM Hai proposed the government of Myanmar to create favourable conditions for Vietnamese firms to expand cooperation and increase investment in Myanmar.

Both sides also discussed regional and international issues of common concern and highly valued the two countries' close cooperation within the framework of Asean and sub-regional mechanisms such as cooperation between Cambodia, Laos, Myanmar and Vietnam (CLMV), the Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS), the Greater Mekong Sub-region (GMS), East-West Economic Corridor (EWEC), the South Economic Corridor (SEC) as well as at international fora.

After the talks, deputy PM Hai and vice President Thiha Thura Tin Aung Myint Oo witnessed the signing of a memorandum of understanding on animal husbandry cooperation between the Vietnam Ministry of Agriculture and Rural Development and the Myanmar Ministry of Livestock Breeding and Fisheries, and a MoU on development cooperation between the Vietnam Ministry of Finance and the Myanmar Ministry's Finance and Revenue.

During his visit to Myanmar, deputy PM Hai met with President Thein Sein, who spoke highly of Vietnam 's achievements in its renewal process and expressed his pleasure with developments in the two countries' ties.

President Thein Sein affirmed that the current visit to Vietnam will contribute to boosting traditional friendship and multi-faceted cooperation between Myanmar and Vietnam. He stressed that the two sides need to accelerate cooperation in 12 prioritised areas agreed by both countries' leaders in April, 2010.

Within the visit's framework, deputy PM Hai received Myanmar 's minister of Agriculture and Irrigation U Myint Hlaing and minister of National Planning and Economic Development Tin Naing Thein.

Senior officials of Vietnamese ministries and departments met with their counterparts of Myanmar to discuss cooperation measures in specific areas in accordance with the guidance of the two countries' leaders.

Regarding economic cooperation, both sides reached consensus on early implementation of specific projects and acceleration of the implementation of the existing agreements.

On the politics and diplomacy, they agreed to enhance exchange of delegations at all levels and people-to-people exchange.

In regional cooperation, Vietnam supports Myanmar 's bid to assume Asean 2014 chairship. Myanmar affirmed its stance relating to the East Sea issues indicated in Asean, respecting the implementation of the Declaration on the Conduct of Parties in the East Sea (DOC) signed between Asean and China, and towards the Code of Conduct in the East Sea (COC).

In Nay Pyi Taw, deputy PM Hai and vice President Thiha Thura Tin Aung Myint Oo attended the opening ceremony of the Vietnam and Myanmar business cooperation conference.

Leaders of both countries acknowledged efforts and initial achievements made by both countries' businesses in recent years, especially in 2011 when the two sides implemented the April high-level agreement. They affirmed wish and resolve of both governments in creating favourable conditions for business and cooperation.

During the visit, deputy PM Hai and his entourage made a working visit to Yangon, where he received the Yangon governor, attended and addressed the Myanmar-Vietnam business exchange meeting jointly held by the Vietnamese investors' association in Myanmar (AVIM) and the Myanmar Chamber of Commerce and Industry.

He also attended the launching of the Viglacera Group showroom in Yangon.

Vietnam News Agency - June 14, 2011