Economic Relations: Dialogue on Promoting Bilateral Trade and Investment

Union Minister for Investment and Foreign Economic Relations U Aung Naing Oo received the economic delegation led by the Eurasian Economic Commission (EEC) on promoting bilateral trade between Myanmar and EUEA, Head of the Secretariat of Heavy Enterprise Cooperation Mr Andrey Diansky in Nay Pyi Taw on Thursday.

The Union minister discussed the ongoing dialogue on promoting bilateral trade and investments between Myanmar and Eurasian Economic Commission, the signing of MoUs, government-private discussions to cooperate in win-win economic ties.

He also highlighted the prioritized sectors of the State Administration Council following economic objectives to recover the businesses of the country, economic potential and continuous support to make investments in Myanmar for Eurasian Economic Union (EAEU) member countries, including the Russian Federation.

The officials of EEC and economic representatives discussed the prioritized economic sector, project and cooperation work between Myanmar and EEC.

The Union Minister later attended a dialogue on promoting bilateral trade and investment between Myanmar and Eurasian Economic Union (EAEU).  He said the discussions are being made to sign the Memorandum of Cooperation to promote bilateral investment and trade between the country and EAEU.

The win-win situation for the economic sector will be added to the MoU. Among the EAEU member countries, the government makes efforts to sign agreements for bilateral trade promotion and defence services with Russian Federation and Belarus.

Moreover, the Union Minister discussed the reforms for investment policies and investment sector of the country to revive the economy in the post COVID-19 period and he called for more cooperation in the agriculture and livestock, fertilizer production, cooking oil, electric power and energy, basic infrastructure, in increasing export volumes to the EUEA member countries and importing fertilizers, oil and gas and farming machines to the country.

The Eurasian Economic Commission-EEC and Chairman of Myanmar-Russia Association for Friendship and Cooperation discussed the potential on the promotion of trade and investment.

The Deputy Minister and Senior Officer of EEC also discussed the main sectors to cooperate such as trade and investment, electric power and energy, agriculture and livestock breeding, mining, infrastructure, information and transportation, industrial and financial sectors. They also explained the law, rules and regulations and opportunities.