Logistics, payment issues no longer hinder trade between Russia, Myanmar - Reshetnikov
MOSCOW. Oct 5 (Interfax) - Russia and Myanmar are aiming to step up and diversify bilateral trade, and issues with logistics and payments are no longer a hindrance to this, Russian Economy Development Minister Maxim Reshetnikov said at a meeting of the joint Russia-Myanmar commission trade and economic cooperation in Moscow on Monday.
"As of last year, Myanmar has been exporting beans, furniture and kitchenware to Russia, and Russia has begun exporting mineral fertilizers, shipments of which grew more than 30-fold this year. What we need now is more than targeted, one-off deals, but predictable, stable shipments. Joint business missions have confirmed that Russian companies are prepared to increase exports of fuel, vehicles, grain, medical items and medicines and telecoms equipment. And begin exporting meat produce. And to increase imports from Myanmar - primarily fruits, rice, coffee and spices," the minister said.
"In parallel with this, we are resolving issues with both payments and logistics, and these are not causing any hindrance [to trade] at the present moment," he said.
He said that the memorandum of understanding signed by Sberbank and Myanmar's finance ministry at a meeting of an intergovernmental commission in Moscow on Monday was an "important signal to companies of the appearance of a reliable sales channel, which is of crucial importance for the expansion of trade relations and the implementation of both countries' investment projects".
"The growth of trade is contingent upon convenient logistics. The experience of Russian transport group FESCO in transporting containers between Russia and ACEAN countries will come in useful here. The company is prepared to collect shipments from Myanmar - the main thing now is volumes," Reshetnikov said.
He said that work was underway to develop the Dawei economic zone. "Attention is being focused on implementing Russian companies' projects in the Dawei special economic zone. A feasibility study has been put together for the deep-water port project. The first stage of the feasibility study has been completed for the coal-fired thermal power plant. The stages of this zone's development are being formed," he said.
He also said that an organic fertilizer plant was being built in Myanmar and was scheduled for completion in early 2027. "There are agreements on the construction of a second plant," he said.
Reshetnikov said that an intergovernmental agreement on the construction of a [low-capacity] nuclear power plant (NPP) had already been signed and "negotiations teams are working out the configuration of the future NPP".
