Myanmar and the European Union (EU) will use forum as a mechanism to advance bilateral relations, said a press release published here Thursday at the end of the first ever Myanmar-EU forum held in Nay Pyi Taw over the last two days.

Two working groups on trade and investment, and on cooperation were respectively set up on the occasion.

The forum discussed ongoing cooperation and priorities for the future, focusing on the implementation of the March 2013 joint statement on "Building a Lasting EU-Myanmar Partnership" made by President U Thein Sein and President of the European Council Herman Van Rompuy and President of the European Commission Jose Manuel Barroso, the release said.

In this regard, the meeting discussed ways to support the transition of Myanmar, agreeing to establish a bilateral dialogue on human rights and consult in the coming months on the practical modalities for this, it said.

The meeting set mid-November 2013 to hold the task force meeting for a wide ranging and productive discussions on all aspects of EU-Myanmar cooperation.

Exchanging views on political and economic development in Myanmar and in the EU as well as on regional and international issues, the forum agreed to convene again in Brussels next year.

The forum was co-chaired by Myanmar Deputy Foreign Minister U Thant Kyaw and Chief Operating Officer of the European External Action Service David O'Sullivan.

In April this year, EU announced in Luxembourg total lifting of sanctions against Myanmar with the exception of the embargo on arms, a move that EU said would boost bilateral cooperation between Myanmar and EU countries and further promote Myanmar's relations with the EU.

The EU will use all means and mechanisms at its disposal to support Myanmar's political, economic and social transition and in this context welcomes the initiative of a Task Force to be launched later in the year, building on the Joint Statement agreed on March 5, 2013 during the visit of President U Thein Sein to Brussels.

At the end of February this year, President U Thein Sein paid an 11-day goodwill visit to Europe, covering five countries of Norway, Finland, Austria, Belgium and Italy. The milestone trip has brought about enhancement of bilateral ties with the European Union countries.

According to official figures, EU's investment in Myanmar from Britain, France, the Netherlands, Austria, Germany, Denmark and Cyprus amounted to about 3.8 billion US dollars as of February 2013.

Bilateral trade between Myanmar and EU reached 226.37 million dollars in 2012 of which Myanmar's export to EU amounted to 43.54 million dollars while its import from EU stood at 182.83 million dollars.