Myanmar and Russia central banks sign MoUs on bank account opening and elevation in tourism cooperation

By TIN Media | International Published 1 week ago on 18 September 2023
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Myanmar and Russia inked pacts on travel and the opening of bank accounts between their respective central banks.

Deputy Prime Minister and Union Minister for Transport and Communications General Mya Tun Oo led the team from Myanmar to the Eastern Economic Forum, which was held in the Russian Federation from September 10 to 13 and where the aforementioned agreements were signed.

The MoU on creating bank accounts between the central banks of the two nations was signed by the governor of the CBM of Myanmar and the vice-governor of the Russian central bank to enhance the convenience of payments and investments as well as establish Russian bank branches in Myanmar.

A Memorandum of Understanding on Cooperation in Tourism between the two nations was signed by the Union Minister for Tourism of Myanmar and the Minister for Economic Development of the Russian Federation with the objectives of boosting visitor arrivals, improving tourism services, and promoting the tourism industry.

During their visit, the Myanmar group had crucial discussions with Russian officials. On September 10, they met with Mr. Anton Kobyakov, Chairman of the Managing Committee of the Roscongress Foundation and Advisor to the President of the Russian Federation, to talk over current and upcoming work agreements between the two nations.

On September 12, they met with Mr. Maxim Reshetnikov, Minister of Economic Development of the Russian Federation, to talk about the upcoming fourth meeting of the Russia-Myanmar Inter-Governmental Commission on Commerce and Economic Cooperation, the development of bilateral commerce, and plans for cooperation.

Additional conversations with JSC Russian Railways' First Deputy CEO Mr. Sergey Pavlov centered on investments in dry port construction, collaboration projects at Myanmar's locomotive and coach factories, educational opportunities at Russian universities, and technical and financial support for the country's railway sector.

During discussions with Mr. Ivan Viktorovich Polyakov, Chairman of the Russia-Asean Business Council, the team also looked at economic cooperation between Russia and ASEAN nations and pushed bilateral trade and investment between Myanmar and Russia.

The group met with the governor of Ikut to talk about tourism, economic cooperation, and issues about development. During the week, they also discussed potential maritime commerce and bilateral tourism collaboration with the governor of the Primorsky area

A MoU between the Ministry of Health and FEFU, the opening of a FEFU office in Nay Pyi Taw, digital-related issues, cyber security, and other topics were also covered during their meetings with representatives from Aquarius Technology Ltd. and Far Eastern Federal University (FEFU).

The group also went to the Vladivostok Commercial Port to see port management and operations.



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