German businesses are keen to continue fostering trade and investment ties with Myanmar

Germany is keen to continue fostering trade and investment ties with Myanmar, said Oliver Hoos, first secretary and head of the economic and commercial section at the German Embassy in Myanmar.

Mr Hoos added that German businesses are also keen to invest in the Myanmar energy and agriculture sectors, adding to the US$32 million worth of investments by four other German businesses in Myanmar to-date, according to the Directorate of Investment and Company Administration.

The largest investment by a Germany company in Myanmar is Metro Wholesale, which has channeled approximately US$10 million into its business operations in the country. 

Metro Wholesale is involved in food service distribution for hotels, restaurants, catering firms, independent small retailers and offices. It is a joint venture partnership between Metro AG, the German specialist in wholesale food and Yoma Strategic Holdings Limited, which is listed in Singapore. Metro Wholesale procures its raw materials directly from local farmers. 

Meanwhile, total trade volumes between Myanmar and Germany surpassed US$580 million in 2017-18, with exports exceeding imports by US$180 million. 

During the year, Myanmar exported a total of uS$380 million worth of goods, mainly garments and textiles, to Germany. It imports machinery and pharmaceutical products from Germany. 

Myanmar exports to Germany continued to expand in the five months between October 2018 and March 2019 of the current fiscal year, during which trade amounted to US$350 million.

Myanmar exported US$260 million worth of goods to Germany during the period, according to the Ministry of Commerce. In September, organic Shew Pi Oo and Moe green teas will also be exported to Germany said U Hla Baw, president of Pindaya Tea Cluster 

(The Myanmar Times: https://www.mmtimes.com/news/germany-keen-raise-investment-and-trade-myanmar.html )

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