Opportunities and methods for accessing Myanmar markets were discussed at a seminar in HCM City on July 13.
At the seminar entitled “Demands of penetrating Myanmar market and export solutions”, Vietnamese Ambassador to Myanmar Chu Cong Phung said Vietnamese businesses had advantages when entering potential Myanmar markets as the countries enjoyed a good political relationship and Myanmar encourages private sector foreign trade development and assists import-export activities.
Director of the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) Tu Minh Thien advised Vietnamese businesses to target Myanmar , a potential trade and investment market, at the moment due to the latter’s low labour cost and big business and investment opportunities.
Vietnamese businesses can invest in Myanmar in various fields, including mineral and forestry exploitation, agroforestry and fisheries product processing, agricultural production, animal feed, fertiliser and herbicide processing and fruit and animal breeding, aquaculture, shipbuilding, mechanics for agriculture and biotechnology, telecom, tourism and healthcare services, hydro- and thermo-electricity, and construction material production, Thien said.
According to Myanmar customs statistics, two-way trade between Vietnam and Myanmar recorded a year-on-year rise of 86.7 percent to 56 million USD in the first half of 2010. Vietnam’s exports to Myanmar made up 16 million USD, including garment and textile materials, steel, medicine, electricity and medical equipment, construction materials, chemicals and cosmetics while it imported natural latex, timber, farm products and cathode copper worth 40 million USD from Myanmar in total.
ITPC said that around 25 Vietnamese businesses will make a fact-finding tour to Myanmar from August 10-14.
The visit is to be made under a second trade exchange and market fact-finding programme jointly organised by the ITPC, the HCM City Foreign Affairs Service and the Vietnamese embassy in Myanmar./.
At the seminar entitled “Demands of penetrating Myanmar market and export solutions”, Vietnamese Ambassador to Myanmar Chu Cong Phung said Vietnamese businesses had advantages when entering potential Myanmar markets as the countries enjoyed a good political relationship and Myanmar encourages private sector foreign trade development and assists import-export activities.
Director of the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) Tu Minh Thien advised Vietnamese businesses to target Myanmar , a potential trade and investment market, at the moment due to the latter’s low labour cost and big business and investment opportunities.
Vietnamese businesses can invest in Myanmar in various fields, including mineral and forestry exploitation, agroforestry and fisheries product processing, agricultural production, animal feed, fertiliser and herbicide processing and fruit and animal breeding, aquaculture, shipbuilding, mechanics for agriculture and biotechnology, telecom, tourism and healthcare services, hydro- and thermo-electricity, and construction material production, Thien said.
According to Myanmar customs statistics, two-way trade between Vietnam and Myanmar recorded a year-on-year rise of 86.7 percent to 56 million USD in the first half of 2010. Vietnam’s exports to Myanmar made up 16 million USD, including garment and textile materials, steel, medicine, electricity and medical equipment, construction materials, chemicals and cosmetics while it imported natural latex, timber, farm products and cathode copper worth 40 million USD from Myanmar in total.
ITPC said that around 25 Vietnamese businesses will make a fact-finding tour to Myanmar from August 10-14.
The visit is to be made under a second trade exchange and market fact-finding programme jointly organised by the ITPC, the HCM City Foreign Affairs Service and the Vietnamese embassy in Myanmar./.
