Deal Signed: UMFCCI, IMCCI INK Agreement Of Cooperation

Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) signed a memorandum of understanding with the Indo-Myanmar Chamber of Commerce and Industries (IMCCI) in Yangon, Thursday. 

The agreement endorses exchange of business delegations, organizing educative seminars and conferences for promotion of trade and investment between the two countries. 

Vice President, IMCCI, Rohinton R. Engineer: “MOU was a quite so that basic guidelines are laid down for our members how to improve trade and now today Indo-Myanmar Chamber and UMFCCI got focal point contact so that business can be understood…”

The move is seen as another step forward of Myanmar and India for deeper cooperation in business, trade, and other sectors. Earlier this week, President U Htin Kyaw made his first state visit to India, where he met with the country’s top officials and signed a series of deals promoting cooperation in connectivity, renewable energy, and traditional medicine. 

India and Myanmar have deep cultural and historical connections with strong bilateral trade touching US$ 2 billion in 2015-2016 financial year.