Myanmar, Vietnam seek further enhancement of economic co-op

18:07, June 13, 2010      

Email | Print | Subscribe | Comments | Forum 

Businessmen of Myanmar and Vietnam are seeking further enhancement of economic cooperation and the two sides will meet this month for the purpose, sources with the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) said on Sunday.

Comprising 41 entrepreneurs, a Vietnamese business delegation, led by Vice Chairman of the Hanoi People Committee Nguyen Huy Toung, is to meet representatives of the UMFCCI on June 21 at the Park Royal Hotel in Yangon.

The cooperation sectors outlined for discussion deal with sales and manufacturing, construction material, handicraft, food, industry, security, printing and stationery, real estate investment and consultant service, information and technology, electronic devices, educational, crude oil, chemical, cement and servicing, the sources said.

According to the Vietnam Customs, Vietnam-Myanmar bilateral trade went down 8.6 percent year-on-year to 99 million U.S. dollars in 2009 due to the impact of the global economic recession with Vietnam suffering a trade deficit of more than 31 million dollars and accounting for 91.4 percent of Vietnam's total export turnover to the market.

In the first quarter of this year, their bilateral trade reached 35.4 million dollars, a sharp increase of 247 percent year- on-year.

According to official statistics, Vietnam's investment in Myanmar hit 23.4 million U.S. dollars as of the end of September last year since the country opened to such investment in late 1988.

Vietnam stands the 16th among Myanmar's exporting countries. Myanmar mainly exported its forestry products to Vietnam, followed by agricultural produces, seafood and electrical spare parts, while it imported from Vietnam steel, electronic goods, pharmaceuticals, medicines, industrial products, chemical products, computer and accessories, plastic, cosmetics and engine oil.

Source: Xinhua


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Giant red lantern lights up in Tiananmen Square to celebrate the coming National Day on Oct. 1. (Xinhua/Li Xin)
  • A ceremony is held in Taipei, southeast China's Taiwan, on Sept. 28, 2011, to commemorate the 2,562nd birthday of Confucius (551-479 BC), a Chinese thinker, educationist and philosopher. (Xinhua/Wu Ching-teng)
  • The world's first Boeing 787 Dreamliner for delivery arrives at Haneda airport in Tokyo, capital of Japan, on Sept. 28, 2011. The Boeing 787 Dreamliner, whose buyer is All Nippon Airways (ANA), will implement a flight of ANA on Oct. 26 from Tokyo's Narita Airport to Hong Kong in south China. (Xinhua/Ji Chunpeng)
  • A Libyan National Transitional Council (NTC) fighter shows what is believed to be human jawbone found inside a mass grave near Abu Salim prison in Tripoli, Libya, Spet. 27, 2011. The NTC on Sunday said they had found a mass grave containing the bodies of 1,270 people killed by Gaddafi's security forces in a 1996 massacre at Abu Salim prison in southern Tripoli. (Xinhua/Li Muzi)
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
Hot Forum Discussion