Myanmar-Russia trade expected to reach $1b
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NP News – July 13
Bilateral trade between Myanmar and Russia is expected to reach USD 1 b by the Ministry of Commerce, according to the Permanent Secretary of the ministry Min Min.
The permanent secretary told this information at the meeting on promoting bilateral trade between the two countries held on July 11 in Naypyidaw.
Myanmar is seeking ways to export the country’s products into the Russian market strategically.
The permanent secretary urged to expand the Russian market with agricultural products including rice, broken rice, corn, and green peas as potential export products.
The two countries expect to uplift the bilateral trade up to USD 1b from both private and public sectors while the trade between the two countries was USD 60m in the 2019-2020 fiscal year, he said.
State Administration Council’s cabinet members invited Russian businesses to invest in Myanmar's oil and energy sectors during the recent St. Petersburg International Business Forum held in Russia.