Vietnam, Myanmar boost trade ties
Addressing Vietnamese and Myanmar businessmen at a meeting in Hanoi on Feb. 27, Bien said the two-way trade has made a big leap over the last ten years, surpassing 108 million USD in 2008, an increase of 11 percent from the previous year, despite adverse effects from the ailing global economy.
Vietnam ranks 16th among world exporters to Myanmar and is the 11th largest buyers of goods from the country. Some of Vietnam’s giant groups, including Petro Vietnam and Viettel, have launched their business in Myanmar’s potential market.
Bien also named similarities in the two countries’ economic structures and exchanges of goods as advantages for them to seek closer trade ties.
At a meeting of the Vietnam-Myanmar Joint Committee for Trade on the same day, officials from the two countries discussed ways to facilitate trade exchange, including simplifying administrative procedures, particularly in payment, shipping, insurance and other trade services.
Deputy Minister of Trade Aung Tun, head of the Myanmar businessmen delegation, emphasised the need for regular exchanges of market information and more trade promotion activities./.
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