Myanmar, Russia conclude 5th Intergovernmental Trade & Economic Meeting

THE Fifth Myanmar-Russia Intergovernmental Trade and Economic Cooperation Com­mission meeting was held yes­terday at the Myanmar Interna­tional Convention Centre II in Nay Pyi Taw to enhance trade and economic cooperation be­tween the two countries.

 

Union Minister for Invest­ment and Foreign Economic Relations Dr Kan Zaw and Min­ister of Economic Development of the Russian Federation Mr Maxim Reshetnikov cochaired the meeting.

 

The meeting was divided into four segments: a closed-door meeting, a plenary ses­sion, a memorandum signing ceremony and an economic forum.

 

Present at the closed-door meeting were State Adminis­tration Council (SAC) Member, Deputy Prime Minister and Un­ion Minister for Transport and Communications General Mya Tun Oo, SAC Member General Nyo Saw, Deputy Prime Minis­ter and Union Minister for Plan­ning and Finance U Win Shein, as well as Union ministers and deputy ministers from relevant ministries of Myanmar and the deputy minister of Economic Development of the Russian Federation along with Russian delegates.

 

The plenary session of the Fifth Myanmar-Russia Inter­governmental Trade and Eco­nomic Cooperation Commis­sion meeting continued, where the co-chairs and the Russian Ambassador to Myanmar Mr Iskander Azizov delivered opening speeches.

 

In his opening remarks, Union Minister Dr Kan Zaw highlighted that Myanmar-Rus­sia trade and investment re­lations have significantly progressed since the State Ad­ministration Council assumed responsibilities. He stated that Myanmar’s collaboration with the Eurasian Economic Union (EAEU) would provide access to European markets, while Russia could further expand into Asian markets. He invited Russian investors to collabo­rate on transportation sector development, industrial mod­ernization and infrastructure expansion.

 

He also noted that direct flights between Myanmar and Russia were currently oper­ational, which would further promote tourism. The Union minister then expressed con­fidence that the agreements and discussions from this meet­ing would strengthen bilateral relations, enhance trade and investment and contribute to the mutual economic benefits of both countries.

 

Russian Minister of Eco­nomic Development Mr Max­im Reshetnikov remarked that since the fourth commission meeting, there had been no­ticeable improvements in bi­lateral cooperation, not only in trade and investment but also in infrastructure projects and banking sector collaboration. He emphasized that Russian markets remained open to Myanmar businesses and that the Russia-Myanmar Economic Forum would continue to fos­ter networking opportunities for entrepreneurs from both nations.

 

Russian Ambassador to Myanmar Mr Iskander Azizov added that both nations prior­itized cooperation in the energy, nuclear technology, agriculture and mining sectors to increase trade volumes between Myan­mar and Russia.

 

The meeting continued with discussions on the pro­gress of bilateral trade, invest­ment, and economic coopera­tion, along with the signing of agreements to strengthen ties between Myanmar and Russia. — MNA/KZL