Entrepreneurs of Chinese Province, Myanmar Hold Business Meeting in Yangon

A business meeting of visiting entrepreneurs of China's Anhui province and Myanmar's was held at the Sedona Hotel here Monday to seek business cooperation between the Chinese province and Myanmar.

Sponsored by the Bureau of Commerce of Anhui Province of China and co-organized by Economic and Commercial Counselor's Office of the Chinese Embassy and the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), the business meeting was attended by about 40 enterprises from the Chinese province and about 50 enterprises from the Myanmar side.

The two sides had discussions on cooperation in automobile manufacturing, agricultural and garment production, transportation, real estate, fire fighting and construction as well as trading of medicine, handicraft and furniture.

Introducing about Anhui province and its economic situation, Yu Yong, Director General of the Bureau of Commerce of Anhui Province said bilateral trade between China and Myanmar is very encouraging and steadfastly growing.

On the occasion, U Win Aung, UMFCCI Vice President, invited the Chinese entrepreneurs to invest in Myanmar's emerging special economic zones.

According to statistics, of Myanmar's total foreign investment brought in since two decades ago, China's investment has now topped with 9.603 billion USD.

Chinese official statistics also shows, bilateral trade between China and Myanmar totaled 4.444 billion USD in 2010, an increase of 53.2 percent correspondingly.

There are 170 Chinese companies investing in Myanmar according to the figures.