NAYPYIDAW (Myanmar), Feb 23 (Bernama-Sputnik/RIA Novosti) -- The volume of mutual trade between Russia and Myanmar increased by almost 50 per cent in the first 11 months of 2024. The two countries also have the potential for further trade growth and the implementation of infrastructure projects, Russian Economic Development Minister Maxim Reshetnikov said on Sunday during his visit to Myanmar, Sputnik/RIA Novosti reported.
The business programme of the trip began with a meeting between Reshetnikov and Myanmar’s Prime Minister and Chairman of the State Administrative Council, Min Aung Hlaing.
"We discussed a wide range of issues of bilateral cooperation, including the implementation of bilateral investment infrastructure projects, as well as trade and economic cooperation," Reshetnikov said.
In recent years, Russia and Myanmar have accelerated the pace of cooperation, moved on to specific projects and achieved serious results, the minister said.
"Myanmar is our long-standing and reliable partner in the Asia-Pacific region and on the international stage. It is a promising market with a growing population, low unemployment and a developing economy," Reshetnikov added.
Mutual trade between the two countries is growing due to the expansion of the range of exports and imports. Russia exports mineral fertilisers, oil products and medicines to Myanmar, while Myanmar exports rice, fruit jams, textiles and footwear to Russia.
The Russian delegation to Naypyidaw led by Reshetnikov includes representatives of federal and regional authorities, business, the banking sector, and development institutions. The business programme will include a meeting of the Intergovernmental Commission on trade and Economic Cooperation and a business forum.
Bilateral meetings and negotiations at various levels are planned to be held on the sidelines of the intergovernmental commission. Additionally, nine mutually beneficial documents that are designed to regulate bilateral relations and help in the implementation of specific projects and decisions are expected to be signed.
-- BERNAMA-SPUTNIK/RIA NOVOSTI
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