HCMC to run 3 trade promotions in Myanmar

Ho Chi Minh City’s local government and agencies will be launching three trade promotional programs in the potential market of Myanmar from June 5 to 10.

They include the 2013 Ho Chi Minh City Expo fair in Yangon city; a market research program led by the city's People's Committee; and the center of the series, a conference to promote investment - trade - tourism in Myanmar.

They include the 2013 Ho Chi Minh City Expo fair in Yangon city; a market research program led by the city's People's Committee; and the center of the series, a conference to promote investment - trade - tourism in Myanmar.

The conference is scheduled to kick off on June 6.

The trade promotions are intended to help local businesses introduce their products to the Myanmar market, while also assisting them in seeking new partners and chances to expand distribution chains in the country.

“The Myanmar law on investment, released in 2012, has many changes in regards to foreign investment, so a careful study will help Vietnamese businesses make better use of the chance,” advised Dam Trung Bac, Myanmar’s Honorary Consul in HCMC.

During the first official visit of Myanmar’s Vice President Nyan Tun to Vietnam on March 20, the two countries reached an agreement to do their best to boost their two-way trade to at least US$500 million by 2015.

In 2011 two-way trade turnover between the two countries reached $167 million, up 9.8 percent over 2010. Specifically, Vietnam exported US$82.5 million worth of goods to Myanmar and imported $84.8 million worth that year.

Last year, bilateral trade amounted to US$227 million, up 35.9 percent from 2011 and seven times that of 2003, according to the Vietnamese Customs General Department.

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