28 Apr 2022 20:41

Kamaz to consider possibly manufacturing cars in Myanmar - Tatarstan authorities

KAZAN. April 28 (Interfax) - PJSC Kamaz plans to send specialists to Myanmar in May this year in order to look into the manufacturing capabilities of the country, the press service of Tatarstan's President Rustam Minnikhanov, who is in Myanmar on a working visit with a group of Tatarstan industrialists, said in a statement.

Kamaz CEO Sergei Kogogin has also arrived in Myanmar with a delegation.

"The CEO of Kamaz said that a group from the car plant would arrive in Myanmar in May in order to look into manufacturing opportunities. The auto giant is ready to consider a full range of options from car manufacturing to personnel training and developing a service network. We are ready to form a proposal by June and submit it for signing," according to a press release following the meeting of the delegation with U Aung Naing, Minister of Investment and Foreign Economic Relations of Myanmar.

Kamaz has been collaborating with Myanmar since 2016, and was appointed a truck, parts and service dealer in 2017. Kamaz delivered four Kamaz-6460 tractors to the commercial sector in 2019, with 20 tractors overall planned for delivery as part of the contract with the dealer. Kamaz delivered seven Kamaz-43266 flatbed trucks in 2020.

As previously reported, a military coup occurred in Myanmar on February 1, 2021, with the military declaring a one-year state of emergency and detaining a number of high-ranking officials for so-called election fraud committed on November 8, 2020.

Following the military coup, the European Union imposed an arms embargo on Myanmar and imposed targeted sanctions on the country's armed forces, their leaders and affiliated companies. The EU is prepared to tighten the sanctions.

At the end of January this year, Josep Borrell, the High Representative of the European Union for Foreign Affairs and Security Policy, Vice President of the European Commission, said that, "In the absence of any rapid improvement in the situation in Myanmar, the EU is prepared to take further restrictive measures."