Myanmar-Russia discuss to promote bilateral economic cooperation

October 29, 2021

U Aung Naing Oo, Union Minister for Investment and Foreign Economic Relations received the delegation headed by Mr Anatoly Bulochnikov, 1^st Vice-President of the Russia-Myanmar Association of Friendship and Cooperation at Office No(1) in Nay Pyi Taw on 28 October 2021.

At the meeting, the Union Minister encouraged the guests to promote the bilateral economic cooperation particularly for Russia’s investment in the areas of electricity, oil and gas exploration and production, financial sector cooperation, cement and steel-related products to provide for construction projects, production of fertilizer, information technology, value-added food processing, as well as pharmaceutical production.

Then, the 1^st Vice-President discussed the expansion of bilateral economic cooperation emphasizing the financial sector cooperation in order to ensure smooth bilateral trade and investment activities, to enhance the economic cooperation with the Eurasian Economic Union (EAEU), and to explore potential investment projects based on mutual interests.

Afterwards, they exchanged views on the process of bilateral strategy for the development of economic cooperation, participation of a business delegation from Russia-Myanmar Association of Friendship and Cooperation in the upcoming 2^nd Myanmar-Russia B2B Dialogue, and measures to protect foreign investments in accordance with Myanmar Investment Law.

The meeting was also attended by Deputy Minister for Investment and Foreign Economic Relations U Than Aung Kyaw, Permanent Secretary Dr Wah Wah Maung, Director-General for Foreign Economic Relations Department Dr Marlar Myo Nyunt and the relevant officials. – MNA