A memorandum of understanding on banking cooperation between the Central Bank of Myanmar (CBM) and the Central Bank of Russian Federation was signed on December 5.

The third Russia-Myanmar Inter-Governmental Trade and Economic Cooperation Commission meeting and related meetings were held at the Myanmar International Convention Center-2 in Nay Pyi Taw on December 5.

In these meetings, the CBM conducted three programs related to Russia-Myanmar banking cooperation and regarding "On prospects for interbank cooperation" held under Program (1), Mr. Alexey Guznov, Vice Governor of the Central Bank of Russia, and Mr. Vladimir Komlev, Chairman of the National Payment Cards Company of Russia, led discussions and Dr. Lin Aung, Vice Governor of the Central Bank of Myanmar, reviewed and discussed these discussions.

Then, according to plan (2), the Memorandum of Understanding on bilateral cooperation between the Central Bank of Russia and the Central Bank of the Republic of the Union of Myanmar is signed by the vice governors of the two central banks.

According to program (3), in the Round-table "Banks and Finance", Vice Governor of the Central Bank of Myanmar, Dr. Lin Aung, Deputy Minister of Planning and Finance, U Maung Maung Win, and Vice Governor of the Central Bank of Russia, Mr. Alexey Guznov, delivered speeches, and the central banks and financial institutions of the two countries discussed banking cooperation between Russia and Myanmar.

With the aim of increasing trade and economic cooperation between the two countries, the third Russia-Myanmar Inter-Governmental Trade and Economic Cooperation Commission meeting was held on December 5, and seven agreements were signed on economic cooperation between the two countries.