Myanmar, Vietnam to promote bilateral trade and investments

Myanmar, Vietnam to promote bilateral trade and investments
Published 18 April 2019

During five months of this fiscal year, the total trade volume between Myanmar and Vietnam had exceeded 315 million USD. Both countries are now discussing a plan to promote bilateral trade and investments, according to the figures from the Commerce Ministry.

The bilateral trade between Myanmar and Vietnam hit 315.344 million USD where Myanmar’s export value amounts to 85.123 million USD and Vietnam’s import value, 230.221 million USD.

An official of the Commerce Ministry said, “Take a look at the Myanmar-Vietnam trade, Vietnam’s import has increased consecutively every year. Myanmar can export the goods worth 100 to 130 million USD every year.”

In 2011-2012 FY, Myanmar exported 81.090 million USD to Vietnam while Vietnam imported 62.290 million USD.

On March 12, Union Minister for International Cooperation Kyaw Tin held a talk with Vietnamese Prime Minister Nguyen Xuan Phuc on cooperation in political, economic, investment and tourism sectors, including the bilateral trade of over one billion USD in 2020.

The Myanmar delegation led by Union Minister for International Cooperation Kyaw Tin attended The 9th Meeting of the Vietnam-Myanmar Joint Commission for Bilateral Cooperation, held from March 11 to 12 in Hanoi of Vietnam.

Vietnam’s investments in Myanmar have reached 2161.103 million USD, accounting for 2.74 per cent of the total foreign investments in Myanmar.