"Malaysia has always placed importance to the maintenance of a close relationship with Myanmar over the years," Minister Rafidah Aziz told a business seminar aimed at enhancing trade ties between the countries.

"Malaysian companies are well-placed in terms of expertise and capability to work together with Myanmar companies to identify new opportunities and develop the untapped resources in Myanmar," she said.

Malaysia has been the fourth largest foreign investor in resource-rich Myanmar over the past seven years, according to the Myanmar Investment Commission.

Total accumulative approved Malaysian investments from 1998 to 2004 were valued at 660.7 million dollars in 26 projects, it said.

Bilateral trade in 2004 hit 164.81 million dollars, accounting for 5.1 percent of Myanmar's total trade, Myanmar's Commerce Minister Brigadier General Tin Naing Thein said.