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Russia, Myanmar have discussed prospects of starting payments in national currencies

The support of the interests of Russian IT companies and suppliers of specialized solutions for the telecom market of Myanmar were discussed, the report says

BANGKOK, December 6. /TASS/. Russia and Myanmar have discussed the prospects of the launch of payments in national currencies for servicing bilateral trade, the support of the interests of Russian IT firms and completion of the construction of ironworks in the city of Pang Pet, Russia’s trade mission in Myanmar said following trade and economic consultations through the Russian Industry and Trade Ministry that took place in Naypyidaw.

"The prospects of the launch of settlement payments in the currency pair kyat-ruble for servicing bilateral trade, the support of the interests of Russian IT companies and suppliers of specialized solutions for the telecom market of Myanmar as well as completion of the construction of ironworks in the city of Pang Pet were discussed," the report said.

"At the bilateral consultations on trade and investments a number of initiatives on the creation of preferential conditions for investors and trade partners from Russia were presented to head of Myanmar’s delegation, Deputy Minister of the Ministry of Commerce U Min Min. Prior tasks of cooperation were defined, such as Russia’s participation in electric power projects, the creation of new production sites and the upgrade of existing industrial facilities on Myanmar’s territory for making local products more competitive, as well as purchase of Myanmar’s food (rice, coffee, tea, seafood, fruits). Separately, the options of localization of the production of Kamaz auto equipment as well as supplies through UAZ were discussed with partners," Russia’s trade mission said.

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