The Stock Exchange of Thailand and the Central Bank of Myanmar have signed the memorandum, whereby the Thai exchange will support the establishment of the Myanmar Stock Exchange.
Under the MoU, both would also promote investment in the capital market. This is the second MoU, after the one with Laos.
SET President Charamporn Jotikasthira said that this marks the beginning of cooperation of the capital markets in both countries, which should lead to further business collaboration to enhance Myanmar's economic potential. The Thai exchange will lend supports on the operating system, rules and regulations, trading system and the clearing house. It will help train people in the capital market and educate local investors. A feasibility study to promote Thai-Myanmar joint ventures is under consideration.
Myanmar central banker Than Nyein said Myanmar will learn from the Thai exchange's direct experience, which should jump start the Myanmar exchange so that it becomes a key place for fund mobilisation and a key mechanism in Myanmar's economic reform.