6 June 2024

Russia–Myanmar: Partnership in Development and Investment

As part of the St. Petersburg International Economic Forum 2024, Anton Kobyakov, Adviser to the President of the Russian Federation and Executive Secretary of the SPIEF Organizing Committee, met with an official delegation from the Republic of the Union of Myanmar led by Mya Tun Oo, Deputy Prime Minister and Minister of Transport and Communications of the Republic of the Union of Myanmar.

The participants of the meeting discussed prospects for cooperation and joint projects in traditional and renewable energy sources of power engineering, agriculture, and mineral extraction.

“The current realities and challenges show that the global arena is undergoing a rapid reformatting of inter-country relations. In this situation, cooperation between our countries – friendly and economic – is a priority. During the period of cooperation, many important and fundamental agreements have been reached. It is important to note the expert role of the RC Investments Fund in the development of joint initiatives at the business and governmental levels,” emphasized Anton Kobyakov, Adviser to the President of the Russian Federation and Executive Secretary of the SPIEF Organizing Committee.

The parties noted that relations between the countries are actively developing and contribute to strengthening business ties in key industries. An important step that will contribute to enhancing cooperation will be the final introduction of mutual visa-free regime, as well as the launch of Mir bank cards in Myanmar.

“I would like to thank the Russian side for its openness and readiness for constructive dialogue. I would also like to thank the RC Investments Fund for its great professional support in the development of investment projects. For our part, we consider it extremely important to further implement the announced agreements. We are ready to provide comprehensive support in expanding cooperation and strengthening relations between the countries,” said Mya Tun Oo, Deputy Prime Minister and Minister of Transport and Communications of the Republic of the Union of Myanmar.

The meeting also addressed the development of energy areas: construction of cogeneration plants, an oil refinery complex and solar power plants based on Russian technologies.

One of the key tracks of the talks was the discussion of joint projects in agriculture. In particular, they discussed the production of environmentally friendly biofertilisers under the scientific patronage of Russia in Myanmar to increase the yield of grain crops.

The participants noted that the implementation of all initiatives is impossible without the development of infrastructure – road, transport and logistics, and production. To achieve the goals of cooperation, the parties discussed the establishment of a Russian-Myanmar project office with the participation of the RC Investments Development Assistance Fund.

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