Myanmar, Russia discuss signing of Economic Cooperation Development Strategy (Draft), establishment of industrial zones for Russian businesspersons

Myanmar, Russia discuss signing of Economic Cooperation Development Strategy (Draft), establishment of industrial zones for Russian businesspersons
The 25th St. Petersburg International Economic Forum-SPIEF’22 in progress (Photo-MOPF)
The 25th St. Petersburg International Economic Forum-SPIEF’22 in progress (Photo-MOPF)
Published 22 June 2022

Myanmar and Russia discussed the signing of the Russia- Myanmar Economic Cooperation Development Strategy (Draft), promotion of investment and trade between the two countries and establishment of industrial zones in Myanmar for Russian businesspersons during the 25th St. Petersburg International Economic Forum-SPIEF’22 from 15 to 18 June in the Russian Federation.

Union Minister for Investment and Foreign Economic Relations U Aung Naing Oo and Union Minister for Commerce Dr Pwint San held talks with Mr Maksim Reshetnikov, Minister for Economic Development of Russia about hosting the 3rd meeting of Russia-Myanmar Intergovernmental Commission on Trade and Economic Cooperation in Myanmar, signing of the Russia- Myanmar Economic Cooperation Development Strategy (Draft), promotion of investment and trade between the two countries and establishment of industrial zones in Myanmar for Russian businesspersons.

While attending a working dinner hosted by Mr. Sergei Glazyev, Minister in Charge of Integration and Macroeconomics of the Eurasian Economic Commission, the union ministers of Myanmar and Russian officials discussed banking and payments issues between the two countries, investment and trade issues, enhancement of economic cooperation between Myanmar and Eurasian Economic Union member states, signing for Memorandum of Cooperation between Myanmar and the Eurasian Economic Commission, practical capacity building programmes between Myanmar and Eurasian, promotion of cooperation between ASEAN and the Eurasian Economic Commission, and the signing of a free trade agreement between Myanmar and the Eurasian Economic Commission.

Moreover, Union Minister for Planning and Finance U Win Shein and Mr. Ivan Polyakov, chairman of Russia-ASEAN Economic Cooperation Council, discussed technical cooperation in facilitating banking services, boosting agricultural and livestock products and export, cooperation in energy, digital technology, infrastructural development, information sharing, establishment and upgrading of lubricant factories, fertilizer factories and rubber factories, launch of flights between the two countries, tourism cooperation and fuel tank and infrastructural development.