Vice President wants trade promotion with Nepal

Vice President U Myint Swe stressed the importance of trade promotion with Nepal on 13 May during his meeting with Mr. Bhim K Udas, Nepal’s Ambassador to Myanmar.

“Bilateral trade between Myanmar and Nepal is still low. Trade between the two countries must be promoted, especially the pulses trade,” said U Myint Swe.

“To bolster bilateral trade with Nepal, we will endeavour to reach an agreement through a memorandum of understanding. Myanmar will cooperate with Nepal in the education sector; also, we will try to export fisheries products to Nepal besides pulses and rice,” he maintained.

“India exports pulses to Nepal and some varieties are re-exported from Myanmar. This being so, we believe the quality of Myanmar’s beans is good. Last year, Nepal bought Myanmar’s good quality pulses piled up in the market at a cheap price. We would also like to boost trade with Myanmar,” said Nepal’s Ambassador to Myanmar.

To save transport and transaction costs between Nepal and Myanmar, the Lumbini International Airport will be opened next year. It will help enhance the tourism sector. Further, the two countries will send trade commissioners to observe the markets.

The vice president also invited Nepal to sell its products in Myanmar’s market.

The value of Myanmar’s bilateral trade with Nepal during the last 2017-2018 fiscal year was less than US$8 million, according to the commerce ministry.

Nyein Nyein

Ref; The Global New Light of Myanmar