MOSCOW, August 29 (RIA Novosti) -Russia and Myanmar signed an agreement to establish a bilateral trade and economic commission during a ministerial meeting on Friday.
“We believe that cooperation in the fields of trade, economy and investment with Russia from this day will gain new impetus for comprehensive and rapid development,” Dr. Kan Zaw, Burmese national planning and economic development minister, said after signing the agreement.
Burmese Vice President Nyan Tun was present at the signing as well.
“Russia and Myanmar has a long history of friendship and cooperation, which began with the establishment of diplomatic relations between the two countries in 1948. Soviet Union, and later Russia, has provided us with much help in the development of our country in various fields, including economics,” Zaw said.
Russian Economic Development Minister Alexei Ulyukayev stated that Russia considers Myanmar to be one of its prospective partners. The new commission will give Russia-Myanmar relations a new dynamic, he said.
Ulyukayev suggested gradually increasing the trade volume between the two countries, which currently totals $114 million per year, to $500 million per year by 2017. “The agreement signed today will be the basis for further long-term cooperation within trade, economy and science,” he said.
More than 60 Russian companies took part in the first meeting of the newly established commission, including Bashneft, Inter RAO, Sukhoi Company and the United Aircraft Corporation.
The Russian minister is currently in Myanmar to participate in meetings between Russia and the Association of Southeast Asian Nations.
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