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However, “talks are slated to last for about a year, and the final agreement will be submitted to the Diet [Japanese parliament] next year for approval,” according to Nikkei.

The talks will include intellectual property protection and the deregulation of foreign firms.

“Such an accord would help liberalize and improve protection of investment and create an easier environment for Japanese companies to do business in Burma,” said the Japanese Kyodo news agency.

Last December, Japanese Foreign Minister Koichiro Gemba said his government was interested in the Thilawa Port project near Rangoon and other infrastructure improvement ideas.

Revived Burma a Business Bridge between Asean and South Asia?

Malaysia-based regional bank CIMB Group says an economically revived Burma will
benefit not just the Burmese people but also provide a bridge between the countries of Asean, South Asia and even the Middle East.

“[Burma] links the rest of Southeast Asia to the Indian Ocean and the Middle East. It opens up the land side of logistics like railways and road networks to the Middle East and to India,” says CIMB’s Asean Research Institute chief executive John Pang.

CIMB operates in what it terms the “high growth economies” of Asean but has a business presence in 14 countries.

“Burma is coming on stream at a fascinating time in world economic history. It is full of potential,” said Pang who was with an Asean Business Council delegation visiting Burma.

“Its opening up will also help develop not just Burma but the entire region, like India's northeast provinces.”