Trade And Investment: Myanmar, Belgian Entrepreneurs Hold Meeting In Yangon

Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) on Monday organized a round table meeting between Belgian and Myanmar Entrepreneurs.

About 15 Business Entrepreneurs from Wallonia Region of Belgium discussed the issues on trade, investment and various business enterprises relevant to the technical sectors with Myanmar counterparts at this round table meeting. 

Ambassador, Royal Embassy of Belgium, H.E. Philippe Kridelka said "It's a great pleasure to be here today with a trade mission from Belgium, Wallonia...And we are very impressed by the very warmed welcome that we are received and to know in Myanmar, Yangon. The mission we also visit Mandalay to multiply contexts with potential Myanmar as partners. And my colleague Eric De Clercq who is the director at the Wallonian Foreign Trade Agency. He will explain a little bit one of the sectors our Belgium Wallonia Companies are more interested in."

Director, Asia Pacific Department, Eric De Clercq said "...Yes indeed so we decided to put on the program on trade mission to Myanmar a few months ago. And I'm happy to announce that we are here 15 companies from various sectors going from the pharmaceutical, medical and also energy sector, food industry sector. So, basically we have quite a wide range of companies from Wallonia wishing to basically get information and know how they could develop successful business here in Myanmar..."    

The presentation on Current Situation and Trade and Investment Opportunities in Myanmar were also highlighted at the meeting.

Vice President, UMFCCI, Dr. Maung Maung Lay said “The trade and investment opportunities in Myanmar have lessened. Plans are underway to enlarge trade and investment opportunities in coming years. So, Belgium, one of the European Countries is now visiting Myanmar to invest in trade and business enterprises. It will bring many benefits to our country.”

  In the fiscal year of 2018-2019, Myanmar trade with the EU stood only 7.6% of total trading. For 2019-2020 fiscal year, it stood at 6.22% of total trading. So, EU investment in Myanmar stands only 2.8% of total existing enterprises, it's learnt.