The Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) and the Japan Chamber of Commerce and Industry Myanmar (JCCIM) on February 14 signed a memorandum of understanding (MoU) to cooperate in mutual promotion of trade and investment between the two countries.
UMFCCI is a national-level nongovernmental organisation representing the private sector with an aim to contribute to economic development of the nation through safeguarding its interests. Comprising 16 Region and State chambers of commerce and industry, nine border trade associations and 76 affiliated associations, UMFCCI acts as a bridge between the State and the private sector presenting the views and interests of business to the Union Government.
JCCI is a network of comprehensive local economic organisations with a goal to encourage the full flowering of individual inspiration by helping member companies, their employees, and each community ceaselessly foster bold innovation.The Myanmar-Japan MoU is a clear statement of JCCI’s eagerness to cooperate with Myanmar businesses for mutual benefits, said Katsuji Nakagawa, President of JCCIM, hailing the agreement as a ‘tangible illustration of Japan’s full engagement’. He added that JCCIM will discuss further details about its cooperation with UMFCCI in the near future.
The Japanese private sector has been intensifying engagement with Myanmar businesses in recent years, according to Nakagawa, who stressed the importance of Myanmar-Japan joint initiative and the implementation of Myanmar-Japan Centre for strengthening bilateral ties.
