YANGON, March 10 -- A delegation comprising business leaders from 40 state-owned enterprises from China's eastern port of Tianjin on Tuesday held a meeting with their Myanmar counterparts to explore businesses and trade opportunities.

The Tianjin delegation was led by Li Fuming, Chairman of state- owned Assets Supervision and Administration Commission of Tianjin Municipal People's Government (TJ-SASAC) while the Myanmar delegation was headed by Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) Vice President Dr. Myo Thet.

A Memorandum of Understanding (MoU) was signed between U Zaw Naing Thein, CEC member of UMFCCI and Myanmar Investment Committee Chairman, and Liu Jianzhong, Deputy Director of TJ-SASAC to promoting the economic and trade relations between Myanmar and Tianjin.

UMFCCI has signed a total of 16 MoUs with China including the one with Tianjin in a bid to boost closer business ties between two countries.

Meanwhile, bilateral trade between Myanmar and China reached 7, 016.24 U.S. dollars in the fiscal year 2013-14.

According to official statistics, China's investment in Myanmar amounted to 14.49 billion U.S. dollars in 87 projects as of January 2015, accounting for 27.25 percent of the total foreign input and ranking the 1st in Myanmar's foreign investment line-up since the country opened its door in late 1988.