Jun 30, 2011

Myanmar, Indonesia eye business cooperation to boost trade

Myanmar and Indonesia are seeking cooperation in various business sectors in Myanmar aimed at boosting bilateral trade and investment between the two countries, the local weekly Flower News reported Tuesday.

A high-level Indonesian delegation will discuss with its counterparts at Traders Hotel in Yangon on Thursday on agricultural products, construction materials, machine tools, forestry, food, palm oil, rubber, auto parts, textile and clothing.

Meanwhile, a Myanmar-Indonesia business meeting was also held in Yangon recently.

According to Myanmar official statistics, Indonesia is Myanmar' s fourth largest trading partner among ASEAN members after Thailand, Singapore and Malaysia. Bilateral trade stood at 316.61 million U.S. dollars in the fiscal year of 2010-11.

Indonesia's exports to Myanmar amounted to 41.15 million dollars, while its imports from Myanmar were valued at 275.46 million dollars.

Indonesia's investment in Myanmar has so far reached over 241. 49 million dollars since late 1988 when Myanmar opened to such investment, ranking the 10th among Myanmar's foreign investors.

Source: Xinhua


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