Under an initiative proposed at the United Nations Climate Change Conference, industrialized nations would pay Myanmar and other rainforest nations to reduce their deforestation rates. The aggressive plan is an effort to reduce carbon dioxide emissions and to allow industrialized nations meet the greenhouse gas emissions limits set under the Kyoto Protocol. If Myanmar reduces deforestation on half of its rainforests, it can make at least $800 million.

Myanmar delegates visiting Brunei cited the need for possible tourism and energy alliances. At the Brunei Economic Development Board (BEDB), the delegates welcomed Bruneian companies to venture into Myanmar and join other countries currently investing in the energy business. Trade between Brunei and Myanmar only reached USD 800,000. A lack of natural complementaries is cited as the cause for the low figure.

Myanmar is retrieving more lands in its biggest city of Yangon for the purpose of increasing its industrial zones. Myanmar is planning to set out plants and workshops away from the residential areas to decrease environmental problems. Some of the factories are believed to have affected the local residents physically and psychologically.

Despite political turmoil in Myanmar, India and Myanmar are very likely to sign an agreement on a port at the Kaladan River very soon. The river will provide India's land-locked states in the northeastern part of the country with access to the Bay of Bengal, allowing to overcome Bangladesh's refusal to provide transit. According to the Ministry of External Affairs, the agreement is going to be signed within a few weeks, enabling the project to be started early next year.

After nearly four years of talks, Japan and the Association of Southeast Asian Nations (Asean) may come to terms by November to form a free-trade area. As part of Asean’s annual summit of dialogue between trade ministers, Japan's Trade and Industry Minister Akira Amari held meetings over the weekend in Manila with his Asean counterparts. Currently, Japan is Asean’s largest source of foreign direct investment (FDI) with direct spending rising 50 percent last year to USD 10.8 billion. According to Asean data, Asean-Japan trade totaled USD 154 billion in 2005, which accounted for 13 percent of the groups total exports and imports. Asean members include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Japan has reached a trade agreement with the Association of Southeast Asian Nations (ASEAN) known as the ASEAN-Japan Comprehensive Economic Partnership Agreement. Under the free trade agreement, Japan will immediately repeal 90 percent of its import tariffs from ASEAN in order to be able to compete with China and South Korea. Japan and ASEAN will sign the agreement in Singapore when the leaders meet in November.

Myanmar's Yangon Airways has begun offering e-tickets as an option for its customers. To make a flight reservation, travelers can visit http://www.yangonair.com/ and make a payment with a bank transfer. In addition to improving service with e-tickets, Yangon Airways announced that it plans to buy another aircraft for outbound charter flights.

Myanmar has announced its plans to establish six "economic zones," which are special areas that will exempt foreign investors making direct investment from taxation for two to eight years. The special economic zones (SEZ) were developed in an effort to encourage foreign investment and to promote economic development. Prospective investment sectors include agriculture, livestock and banking.

The business relationship between Myanmar and Bangladesh seems to be stabilizing as Myanmar's Senior General Maung Aye plans to pay a visit to Bangladesh on September 10. Aye will be visiting Chief Advsior Fakhruddin Ahmed to discuss enhancing bilateral cooperation between the two countries. A diplomatic source said: "The visit will hopefully pave the way for building a solid relationship between the two next-door neighbours."

Myanmar's roofs are getting an environmentally friendly makeover. Yangon's System Engineering Co., Ltd has received its first shipment of Onduline, an alternative to corrugated iron, which is commonly used as a roofing material. Unlike iron, Onduline is lightweight, soundproof, and rust-resistant. Onduline is made from waste paper that has been saturated with bitumen, a byproduct of crude oil.