Pepsi to re-enter Burma with new distribution agreement
PepsiCo, one of the world's largest drinks makers, has announced plans to re-enter Burma as the country opens up its markets after various sanctions against it were lifted.
It has signed an agreement with a Burmese firm to distribute Pepsi-Cola, 7-Up and Mirinda brands in the country.
PepsiCo, which pulled out of Burma in 1997, said it was also exploring the option of setting up production there.
The firm's rival Coca-Cola has also announced plans to return to Burma.
"We are constantly looking for new growth opportunities that will put our food and beverage brands in the hands of more consumers," said PepsiCo chairman and chief executive Indra Nooyi.
Ms Nooyi added that Burma was "a market with great potential" and "over time, we believe we can build a strong business" in the country.
The drinks maker has been expanding its operations in developing and emerging markets.
Its revenues from these economies nearly tripled to $22bn (£15bn) in 2011 from $8bn in 2006.
PepsiCo said that it will also partner with the United Nations Educational, Scientific and Cultural Organization (UNESCO) to launch vocational training initiatives in Burma in a bid to improve labour skills in the country.
"PepsiCo and UNESCO plan to work together to provide programs that focus on managerial skills training to support the country's development, empower its people and strengthen the workforce as PepsiCo looks to expand its business in the future," it said.