Myanmar business organ to open office in China

(Xinhua)
Updated: 2009-10-12 14:04

YANGON: The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), the biggest business organization in the country, will open a representative office in China later this month to strengthen bilateral trade activities with China as well as with other member countries of the Association of Southeast Asian Nations, sources with the UMFCCI said on Monday.

The representative office, named "Myanmar Liaison Office", has been built in Nanning, capital of Guangxi Zhuang Autonomous Region in southwest of China, the sources said, adding that, the office will be opened on the occasion of the 6th China-ASEAN trade fair scheduled for October 20 to 24 in the same city.

Myanmar products will be showcased in 100 booths in the trade fair.

In the last 5th China-ASEAN trade fair, Myanmar won the best booth award.

China's Nanning and Myanmar's Yangon established friendship city relationship in July this year.

Meanwhile, a business center with India, Myanmar's biggest beans exporting country, will be also set up soon, the sources said, adding that more such representative offices in neighboring countries will also be introduced for business expansion.

According to Chinese official statistics, China-Myanmar bilateral trade amounted to 2.626 billion US dollars in 2008, up 26.4 percent. Of the total, China's export to Myanmar took 1.978 billion dollars.

Up to the end of May 2009, China's contracted investment in Myanmar reached 1.331 billion dollars, of which that in mining, electric power and oil and gas respectively took 866 million dollars, 281 million dollars and 124 million dollars.

China now stands the 4th in Myanmar's foreign investment line-up.