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Russia and Myanmar sign agreement on setting up Russian trade mission in Yangon

MOSCOW, September 27. /TASS/. Russia and Myanmar have signed an agreement on setting up Russia’s trade mission in Yangon, Economic Development Minister Maksim Oreshkin said following the second meeting of the intergovernmental commission on Wednesday.

The mission will facilitate the expansion of trade and economic ties, as well as help organize international exhibitions on the territory of both countries.

"In August, the first batch of Kamaz trucks was supplied to Myanmar. The discussion is also underway regarding cooperation in agriculture and food production," Oreshkin added.

According to the data provided by the Ministry, bilateral trade between the two countries reached $138.9 mln in seven months of 2017, a 61.2% increase year-on-year. Meanwhile, Russia’s exports amounted to $116.3 mln (up 50.6%), while imports equaled $22.6 mln (up 152.6%). In 2016, the trade turnover between Russia and Myanmar doubled to $258 mln.

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FACTBOX: Collective Security Treaty Organization

The Collective Security Treaty came into force on April 20, 1994 to herald the emergence what would eventually become the Collective Security Treaty Organization. The six member-countries are Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan

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