Myanmar, Russia discuss bilateral financial cooperation,  trade development, investment

Myanmar, Russia discuss bilateral financial cooperation,  trade development, investment

28 OCTOBER 2021

UNION Minister for Planning   and Finance U Win Shein and Governor of the  Central Bank of  Myanmar U Than Nyein met the   delegation led by Vice-President of the Russia-Myanmar Friend[1]ship and Cooperation Association  Mr Anatoly Bulochnikov yesterday morning in Nay Pyi Taw and discussed financial cooperation  matters.

During the discussion, Un ion Minister U Win Shein clarified the state of  banking operations  and state-owned banks, and the  Central Bank of Myanmar Governor explained the operations  of the local and foreign banks supervised by the Central Bank  of Myanmar.

At the meeting, Vice-Pres ident Mr Anatoly Bulochnikov proposed to establish a working   committee on Russia-Myan[1]mar financial cooperation with relevant officials from the two  countries in order to facilitate  systematic cooperation between  Myanmar and Russia in the  public and private sectors and  facilitate trade and investment  between the two countries. He  said he hoped that work would  be implemented soon, and explained the process for proposing  financial cooperation.

Union Minister U Win Shein  said he accepts the formation of  the working committee, adding  detailed discussions shall be carried out for the cooperation, and  the two countries should cooper[1]ate accordingly to the banking   and financial laws and regula[1]tions of the respective countries  to develop bilateral trade and  investment.

Afterwards, Central Bankof Myanmar Governor U Than Nyein discussed the status of the  signing of a bilateral agreement  on cooperation between the central banks of two countries. The  meeting was also attended by  Deputy Minister for Planning and Finance U Maung Maung  Win, Deputy Governor of the  Central Bank of Myanmar Daw  Than Than Swe and officials from  relevant departments.