Strategic Cooperation Framework Agreement has been signed between the Investment and Trade Promotion Committee of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and CCPIT Yunnan Sub-Council.
The agreement signing ceremony took place at the UMFCCI office in Yangon on April 6.
The agreement aims to create links between local and foreign businesspeople while the UMFCCI is trying to speedy up trade between Myanmar and China's Yunnan Province, have cooperation in hosting trade fairs, promoting legal services and investment and strengthen the relationship
The agreement was signed by committee chairman Myo Thant and CCPTI Yunnan Sub-Council Vice Chairman Bao Wentao.
According to the UMFCCI, Myanmar-China Business Council will be established this month so that Myanmar businesspeople can participate in China-Myanmar Economic Corridor of One Belt One Road (OBOR).
"Regarding OBOR, the Chinese ambassador invited businesspersons to form Myanmar-China Business Council. We are planning to form it this month," said UMFCCI president Zaw Min Win.
According to a statement issued by the Chinese embassy in Myanmar, plans are also underway to build China-Myanmar economic cooperation platform by establishing a better economic network.