Removing obstacles for Vietnamese businesses operating in Myanmar.

Recently, Chairman of the Vietnam-Myanmar Friendship Association Chu Cong Phung led a delegation of 8 businesses to visit and work with the Myanmar Embassy in Vietnam to connect trade and resolve difficulties for businesses of both countries.

Tháo gỡ khó khăn cho doanh nghiệp Việt Nam kinh doanh, làm ăn tại Myanmar

Myanmar's Ambassador to Vietnam, Kyaw Soe Win, answers questions from Vietnamese businesses attending the event. (Photo: Ha An)

The event was organized to coincide with the visit of a delegation of Myanmar businesses to Vietnam to participate in the 2023 Vietnam Traditional Craft Village Preservation and Development Festival, which took place from October to November 2023 at various locations in Hanoi .

Attending the event, on the Myanmar side were the Myanmar Ambassador to Vietnam, Kyaw Soe Win, the economic counselor, and representatives of several Myanmar businesses operating in the handicraft, fine arts, and agriculture sectors. On the Vietnamese side were the Chairman of the Vietnam-Myanmar Friendship Association, Chu Cong Phung, and representatives of eight Vietnamese businesses operating in Myanmar.

During the event, Vietnamese businesses stated that the two biggest difficulties they currently face are issues related to import and export licensing and payment, and expressed their hope that the Myanmar Embassy would work with them to resolve these issues so that businesses can operate with peace of mind in the country.

Myanmar's Ambassador to Vietnam, Kyaw Soe Win, affirmed that Myanmar highly values its comprehensive cooperation with Vietnam. The Ambassador acknowledged the current difficult situation as the Myanmar government is grappling with numerous security and foreign policy issues. Therefore, the Ambassador urged international businesses, especially Vietnamese businesses, to remain committed and patient, while also maintaining regular contact with the economic attaché office to resolve difficulties and explore new trade and investment opportunities.

Chairman of the Vietnam-Myanmar Friendship Association, Chu Cong Phung, expressed hope that Myanmar would soon stabilize its domestic political situation, allowing trade relations between the two sides to return to their previous vibrant state.

According to the Vietnam Trade Office in Myanmar, as of the end of August 2023, trade turnover between Vietnam and Myanmar reached US$489 million, a decrease of 17% compared to the same period in 2022.

Myanmar Ambassador to Vietnam Kyaw Soe Win and Chairman of the Vietnam-Myanmar Friendship Association Chu Cong Phung pose for a commemorative photo with representatives of Vietnamese and Myanmar businesses. (Photo: Ha An)

Specifically, Vietnam's exports to Myanmar reached US$311 million, a decrease of 15%, and imports reached US$178 million, a decrease of 20% compared to the same period in 2022. The main export items included transportation vehicles and parts, textiles and garments, machinery, equipment and tools, textile raw materials and accessories, leather and footwear, fertilizers, plastic products, electrical wires and cables, and raw plastic materials.

According to the Vietnam Trade Office in Myanmar, Myanmar's imports from other countries are generally facing many difficulties. Based on the current market situation, the Vietnam Trade Office in Myanmar has been, is, and will continue to implement trade promotion activities in the following direction: Continuing to proactively work through business associations, distribution companies, contractors, supermarkets, and other partner businesses in Myanmar to connect with Vietnamese suppliers.

At the same time, the Vietnam Trade Office in Myanmar is strengthening coordination with domestic businesses to cooperate closely with project contractors in bidding packages and projects with high export potential, especially in machinery, electrical equipment, electrical cables, iron and steel, and construction materials; organizing trade activities, delegations of businesses from both countries, and participating in trade fairs.

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