Foreign ministers of Thailand and Myanmar early Monday signed a memorandum of understanding (MoU) to develop Myanmar's Tavoy deepsea port and related infrastructure projects designed for facilitating goods transport from Europe and the Middle East.
The MoU was signed by Thai Foreign Minister Noppadon Pattama and his Myanmar counterpart Nyan Win on the sidelines of a special meeting of foreign ministers of the Association of Southeast Asian Nations (ASEAN).
The ASEAN foreign ministers are scheduled to confer on the Cyclone Nargis which devastated Myanmar on May 3.
Mr. Noppadon told Thai News Agency after the signing of the MoU that both countries would help develop Tavoy deepsea port, construct a 130-kilometre road from the port to Thailand and develop other related projects.
Upon completion, the port would facilitate goods transportation from Europe and the Middle East to Thailand's Laem Chabang port and cargoes could be easily transported to Laos and southern China from there, Mr. Noppadon said.
Transportation could be reduced by more than 10 days, according to the Thai foreign minister.
The project fits very well with the West-East Economic Corridor, Mr. Noppadon explained, adding that China is also interested in buiding a dual rail track with trains travelling at a speed of nearly 200 kilometers per hour.
He said private Thai business interests will be encouraged to manage the port with an initial contract of a five year extendeable contract.
The site construction survey is expected to be completed by the end of this year and construction is expected to take about six years, he added.
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