President and CEO of Suzuki Motors Osamu Suzuki signed the joint venture agreement with Myanmar deputy premier admiral Maung Khin in Rangoon yesterday whereby Suzuki will be entering Myanmar for the first time.

The project will have 70 per cent ownership by Suzuki and 30 per cent by the host government and will produce 25,000 units of motorcycles and 3,000 small cars a year.

Suzuki is expected to invest about $10 million in the project, including the majority of venture's $one million in capital.

The joint venture will assemble passenger cars and commercial vehicles with displacements of around 1,000 cubic centimetres (cc) and motorcycles of about 100 cc. Parts will be imported from Thailand and other Southeast Asian nations as well as from Japan. Suzuki, which has 50 per cent partnership with Maruti Udyog of India, has 57 overseasplants in 26 countries including USA and Canada.