Sep 22, 2012

Myanmar, Japan to hold joint meeting on business cooperation this month

Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and Japanese Chambers of Commerce and Industry (JCCI) will organize the 9th Joint Meeting of Myanmar-Japan CCI Business Cooperation Committee at Sedona hotel here this month, according to UMFCCI Saturday.

Scheduled to take place on Sept. 28, nearly 110 businessmen from both sides will discuss mutual cooperation in investment and trade individually or in group.

The joint meeting would contribute to strengthening bilateral cooperation between the two countries and help boost investment.

Meanwhile, the Japan External Trade Organization (JETRO) has recently launched a business support center here.

Japanese businessmen has planned heavy investment in Myanmar in various sectors.

The Mizuho Financial Group Inc of Japan, the second largest financial services group in the country, will provide technical aid to both the government ministries and private companies for development of Myanmar's financial and economic sectors.

According to official statistics, Japan injected a total of 216. 94 million U.S. dollars as of July 2012 since 1988, standing the 12th in Myanmar's foreign investors line-up.

In the fiscal year 2011-12 which ended in March, trade between Myanmar and Japan nearly doubled, reaching 822.5 million dollars compared with 2010-11's 493.8 million dollars.

In the first four months (April-July) of the fiscal year 2012- 13, bilateral trade between Myanmar and Japan amounted to 443.65 million dollars.

Of the total during the period, Japan's export to Myanmar took over 337.19 million U.S. dollars while Japan's import from Myanmar represented 106.46 million dollars.

Source: Xinhua