Myanmar plans to facilitate direct payments in the currencies of South Korea and other regional countries to make trade transactions smoother, Central Bank of Myanmar Chairman Dr. Khin Naing Oo said.

Dr. Khin Naing Oo made the remarks during a meeting with BAE Byeongsoo, chargé d’affaires of the South Korean Embassy in Myanmar, and his delegation in Nay Pyi Taw on Thursday.

During the meeting, BAE said South Korean companies already operating in Myanmar, as well as others interested in investing in the country, could benefit from bilateral investment and cooperation.

Dr. Khin Naing Oo said Myanmar would hold discussions on establishing direct payment arrangements using the currencies of South Korea and other regional countries, which he said would facilitate trade between the countries.

They also discussed banking issues between Myanmar and the Republic of Korea, foreign exchange issues, and the situation of Korean banks that have opened branches and subsidiaries in Myanmar.

The meeting was attended by the Vice Governors and departmental officials of the Central Bank of Myanmar.