Business people from Myanmar and Indonesia are discussing on cooperation in foodstuff, textile and service industries sectors20 Sep 2019
Discussion is underway between Indonesian and Myanmar businesspeople to cooperate in foodstuff, textile and service industries, according to the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI).
A one-on-one business matching took place to facilitate cooperation between business people of each countries in trading fertilizers, weed killers, food and medicine packaging, cement, paper and pulp, textiles including batik, trade and services.
According to trade data from the ministry of commerce, trade between the two countries amounted to US$523.147 million in the six-month interim budget period from April to September 2018. Myanmar exported goods worth US$62.822 million to Indonesia. Then, Myanmar imported goods worth US$460.325 million from Indonesia.
In 2017-2018 fiscal year trade with Indonesia totalled US$1,025.278 million—US$123.909 million in export and US$901.369 million. From October 1 to July in the current 2018-2019 FY, bilateral trade amounted to US$863.091 million.
The business matching held on September 16 was attended by a lot of businesspersons from both countries.
UMFCCI Centennial International Expo 2019 to be held with the aim of providing local and foreign investment and economic opportunities will showcase products including vehicles from Germany, the Netherlands, Japan, Korea, China, Malaysia, Thailand, Taipei and Vietnam.