Moscow hosts Myanmar-Russia Business Forum

The forum was a continuation of the dialogue started at the 5th meeting of the intergovernmental commission of Russia and Myanmar on trade and economic cooperation in the capital of the republic, Naypyidaw. Innovative solutions for the markets of both countries were presented at the event.

As Union Minister for Investment and Foreign Economic Relations of Myanmar Kan Zaw said in his welcoming remarks, the republic's authorities expect Russia to become the state's largest investment and trade partner. He noted that Myanmar now exports CMP (cut-make-pack) garment products, teak wood chips and finished wood products, mango juice, and rice to Russia.

"Myanmar is currently developing border railway sections with China, India, and Thailand as part of the Trans-Asian Railway Network. Thus, we graciously invite Russia to join us in this endeavor, collaborating to enhance and modernise these vital railway networks," he added.

In turn, Russian Minister of Economic Development Maksim Reshetnikov emphasised the importance of the Russian-Myanmar projects being implemented. Among them are the construction of a solar power plant and an organic fertiliser plant in Myanmar, as well as the special economic zone "Dawei", thanks to which a new modern deep-water port should appear in the republic.

"Successful implementation of joint projects requires personnel, and there is mutual interest in working in this direction. For our part, we are ready to help in training and attract qualified specialists to Russia," Reshetnikov said.

Secretary General of the Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) Khaing Khaing Nwe noted at the forum that for five years the country's exports to Russia have grown almost 10 times. According to her, this shows significant potential for further trade growth.

Myanmar Prime Minister Min Aung Hlaing made closing remarks at the event. He said the past talks with Russian President Vladimir Putin had addressed a number of issues of economic cooperation between the countries.

"I propose to bring Russian technology to Myanmar. This will give Russia opportunities. I invite investors to our country and guarantee comfortable conditions for doing business," he emphasised.

The Myanmar-Russia Business Forum was organised by the Myanmar Embassy in Russia, the Myanmar Chamber of Commerce and Industry, the Roscongress Foundation, and others.

On the eve of the talks between Putin and Min Aung Hlaing, an agreement was signed on the construction of a small-scale nuclear power plant in Myanmar. The Russian leader emphasised that this document will be a good incentive for further economic growth, the creation of thousands of new jobs and the emergence of highly qualified personnel.

Photo: Anna Gryzlova / TV BRICS