Russia and Myanmar Update Economic Cooperation Strategy

Russia and Myanmar Update Economic Cooperation Strategy

Anton Kobyakov, Adviser to the President of the Russian Federation, and a delegation from the Republic of the Union of Myanmar, headed by Kan Zaw, Union Minister for Investment and Foreign Economic Relations met in Moscow. 

“It is gratifying that Myanmar is expanding its diplomatic presence in Russia – the establishment of consulates general in St. Petersburg and Novosibirsk will significantly contribute to the development of interregional ties. At the same time, direct flights, which were launched in September 2023, will significantly simplify logistics when planning a business trip. For my part, I propose to consolidate the achieved results and hold a Russian-Myanmar business reception and presentation of trade and economic cooperation opportunities on the opening day of the St. Petersburg International Economic Forum (SPIEF 2024 International Cooperation Day),” noted Anton Kobyakov.

In 2023, the Russian Federation and the Republic of the Union of Myanmar celebrated the 75th anniversary of the establishment of diplomatic relations, which made cooperation in key areas for the two countries possible. In particular, an important area of cooperation is the strengthening of direct interbank ties: the connection of a number of Myanmar banks to the Bank of Russia's Financial Message Transmission System and work to ensure the acceptance of Mir payment cards in Myanmar. 

“We aim to achieve the goals of sustainable development, energy efficiency, and inclusive and sustainable growth. The RC-Investment Fund has been active in Myanmar and has kept us informed of the results of its work. During this visit, we had a series of working meetings with the Fund and partners, where we discussed projects in different sectors. We will touch upon many of them within the framework of the Intergovernmental Commission. In addition, we expect positive results from Russia’s participation in infrastructure projects in Myanmar’s emerging Special Economic Zone (SEZ).  However, we now need support from the Russian Government to facilitate the export of food and non-food products, in particular aquaculture. In addition, in our opinion, the issue of normative regulation of legislative acts is important, thus we will create conditions for investment inflow,” emphasised Kan Zaw.

During his speech, the Minister emphasised the importance of communication between representatives of the business community at business profile platforms, where everyone can talk about the effectiveness of implemented projects and share information booklets with detailed descriptions of cases.

The meeting was held on the eve of the second Russian-Myanmar Business Forum, which will be held today – 27 January in pavilion 55 of VDNH ‘House of Youth’ as part of the educational programme of Russia Expo the general partner of which is the “Znanie” Society.

Organizers of the Forum: Ministry of Economic Development of the Russian Federation, Ministry of Investment and Foreign Economic Relations of the Republic of the Union of Myanmar, Roscongress Foundation, and RC-Investment – the investment platform of Roscongress Foundation.




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