Naypyidaw [Myanmar], April 10 (ANI): Myanmar's President Min Aung Hlaing on Friday acknowledged that his newly formed government faces significant challenges and pledged efforts to normalise ties with the regional bloc Association of Southeast Asian Nations (ASEAN), according to the Khaleej Times.

Addressing parliament during his inauguration speech in Naypyidaw, the former junta chief said his administration would prioritise peace and democracy while focusing on boosting foreign investment, strengthening agriculture, and implementing long-term strategic plans.

'Myanmar is now well on its way toward democracy, but the new government has a lot of challenges to overcome,' he said, adding, 'Our priorities are democracy and peace.'

He further stated that the government would work to 'enhance international relations' with ASEAN.

According to Global Times, Min Aung Hlaing was officially sworn in as president earlier in the day during a ceremony held before the Speaker of the Union Parliament, Aung Lin Dwe. The oath-taking took place during the sixth-day session of the first regular sitting of the Third Pyidaungsu Hluttaw (Union Parliament).

U Nyo Saw and Nan Ni Ni Aye were also sworn in as vice presidents, alongside several senior officials including members of the judiciary, cabinet, and key national institutions.

Min Aung Hlaing, who previously served as commander-in-chief Myanmar's armed forces, was elected president by the Presidential Electoral College on April 3, formalising his hold on power nearly five years after leading a military coup.

His transition from military leader to civilian president follows an election victory by the army-backed party, widely criticised by opponents and Western governments as lacking credibility and aimed at entrenching military rule under the guise of democracy.

Following the 2021 coup and subsequent crackdown, ASEAN barred Myanmar's junta leadership from attending its summits, complicating the country's regional engagement.

Meanwhile, Union Minister of State (MoS) for External Affairs Kirti Vardhan Singh embarked on a four-day visit to Myanmar from April 8 to April 11 to attend the inauguration ceremony of the new President in Nay Pyi Taw.

According to a release by the Ministry of External Affairs (MEA) on Monday, Singh is scheduled to hold meetings with key officials of the Myanmar government to discuss ongoing trade, economic, and developmental cooperation initiatives.

The MoS will also engage with members of the Indian diaspora and Friends of India in Yangon, highlighting India's continued commitment to strengthening bilateral relations. (ANI)