UK deal hopes to boost bilateral trade
To enhance bilateral trade and investment, Myanmar and the United Kingdom have signed a memorandum of understanding in Yangon.
The deal was signed at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) with the British Chamber of Commerce in the intention of strengthening partnerships between the two associations and promoting ethical business practices.
According to the agreement signed by UMFCCI president Win Aung and Tony Picon, president of the British trade body, the aim is to promote trade and investment, networking opportunities, sustainable growth and responsible business.
"This MoU will support the UK and Myanmar in strengthening trade and investment. I hope we can attract businesses from the UK to work with Myanmar," said Win Aung.
“Many British businesses are aiming to work in Myanmar with the support of the UMFCCI and the British government. At present we are conducting human resources classes for UMFCCI members," said Mr Picon.
The UMFCCI has a membership of more than 30,000 firms and the British chamber, founded in 2014, has 11 global sponsors, as well as 140 member companies, including businesses from Myanmar, Asean, the UK and the rest of Europe.
