Wed 20 Feb 2013
Filed under: Business / Trade,Inside Burma,International,News
The United States-Myanmar Trade and Investment conference will be held at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) here next Monday aimed at promoting bilateral trade and investment between the two countries, according to the UMFCCI on Wednesday. The program “US-Myanmar Economic Relations: The Path Forward” is organized by UMFCCI in cooperation with Washington D.C.-based the United States Chamber of Commerce (USCC).
President of UMFCCI U Win Aung and Joe Fernandez, US Assistant Secretary of State for Economic and Business Affairs will address the event.
The event will be joined by the members of USCC and representatives from some well-known US business companies related to such business sectors as oil and natural gas, information technology, energy, agriculture and livestock, servicing and online shopping.
Officials will discuss trade and investment, compliance and guidelines for US companies doing business in Myanmar.
According to Myanmar official statistics, US investment in Myanmar amounted to 243.56 million US dollars in 15 projects, accounting for merely 0.6 percent of the total as of July 2012 since Myanmar opened to such investment in late 1988 and ranking the 9th in Myanmar’s foreign investment line-up.
Bilateral trade between Myanmar and the US reached 293.64 million US dollars in the fiscal year 2011-12, of which Myanmar’s export to US amounted to 29.57 million dollars while its import from US stood at 264.07 million dollars.