Home Insider Insider News EuroCham and Myantrade Signed MoU

EuroCham and Myantrade Signed MoU

The European Chamber of Commerce i n M y a n m a r ( E u r o C h a m ) a n d the Myanmar Trade Promotion Organization (Myantrade) of the Ministry of Commerce signed a Memorandum of Understanding to enhance bilateral trade and promote investment facilitation between the EU and Myanmar on November 24, 2017 in Yangon.

EuroCham serves as the voice of European business in Myanmar. Its main mission is to significantly increase the presence of European companies in the country and to facilitate market access particularly for European SMEs – by advocating for member interests with the government and organisations in Myanmar, the ASEAN region and the EU.

As an introduction, Filip Lauwerysen, Executive Director of EuroCham Myanmar, welcomed the distinguished guests of ministers, chairpersons, directors and director generals from various ministries, departments and federations.

The opening remarks of the MoU signing ceremony between EuroCham Myanmar and Myantrade were delivered by H.E. U Aung Htoo, Deputy Minister, Ministry of Commerce, the Republic of the Union of Myanmar. His Excellency expressed the Ministry of Commerce’s confidence in trade being the key driving force of the further development of Myanmar’s economy. The MoU with EuroCham and continued collaboration between the Ministry and the Chamber would enhance bilateral trade between Myanmar and the EU.

The Deputy Minister was followed by David Levrat, Chairman of EuroCham Myanmar, who welcomed the MoU as an important milestone for EuroCham and the result of a process marked by ongoing dialogue and trust. Further he elaborated on EuroCham’s initial establishment in Myanmar and its mission to promote responsible business as the key for peace and sustainable development. Acknowledging the good cooperation with the Myanmar government Levrat concluded his remarks with an overview on EuroCham’s advocacy successes and an optimistic outlook on the further growth of EuroCham Myanmar along Myanmar’s economy.

Zaw Min Win, President of UMFCCI, also attended the event. In his remarks, the President began by expressing his sincere appreciation to witness a first of its kind memorandum signing between the Ministry of Commerce and the European Chamber of Commerce in Myanmar. He welcomed continued collaboration between the two parties, and looked forward to further strengthen the cooperation between UMFCCI and EuroCham. The President’s outlook for the Myanmar economy was optimistic, considering the imminent approval of the Company Act Law’s by Parliament. He expressed confidence that 2018 would offer many opportunities for business activities and investment, also by foreign investors.

The Memorandum of Understanding has been signed by Aung Soe, Director General of Myanmar Trade Promotion Organization (Myantrade), Ministry of Commerce, and Filip Lauwerysen, Executive Director of EuroCham Myanmar. H.E. U Aung Htoo, the Deputy Minister of the Ministry of Commerce, and David Levrat, Chairman of EuroCham, witnessed the signing of the MoU.

The MoU will enhance collaborative activity between the Ministry of Commerce and EuroCham as well as bilateral trade between Europe and Myanmar. The signing ceremony also offered an occasion for further consultations between the EuroCham Chairman and the Director General of Myantrade.