MOSCOW, August 19. /TASS/. Russia and Myanmar have signed a memorandum on cooperation in the electric power and oil and gas sectors, the Russian Energy Ministry reported.

Russia's Energy Minister Sergey Tsivilyov and Myanmar’s Minister for Electricity and Energy Ko Ko Lwin took part in the signing of the agreement. A ceremonial exchange of the signed documents took place in the presence of Russian President Vladimir Putin and Myanmar’s leader Min Aung Hlaing.

"The memorandum aims to develop cooperation between the two countries in the energy sector and create conditions for further expansion of practical cooperation," the report said.

Russia and Myanmar have reaffirmed their interest in further developing contacts between the two countries’ energy agencies and in implementing promising areas of cooperation.

"Russia and Myanmar possess significant potential for developing mutually beneficial cooperation in the energy sector. The signing of the memorandum lays the groundwork for further collaboration between relevant agencies and Russian companies and their partners in Myanmar. We are ready to share our expertise and experience to implement joint energy projects and strengthen Myanmar's energy security," Tsivilyov was quoted as saying.