Myanmar, S Korean businessmen to boost co-op in industrial sector

• Source: xinhua
• [14:51 October 10 2009]
• Comments

Businessmen from Union of Myanmar Chambers of Commerce and Industry (UMFCCI) and South Korea Importers Association are to hold a meeting in Yangon to seek business opportunities through cooperation in industrial sector, sources with the UMFCCI said on Saturday.

The meeting, to be held on Oct. 19 will be attended by South Korean entrepreneurs dealing in metal, ore, rubber, chemicals, wooden furniture, kitchen utensils, household goods, souvenirs, electric motor parts, equipment for producing wrench, tile, surveying equipment spare parts, marine products, canned food, color sorter and gas cylinder spare parts industries, the sources said.

According to the official statistics, Myanmar-South Korea bilateral trade amounted to 252 million US dollars in the fiscal year of 2008-09 (April-March), significantly increasing from 108.2million dollars in 2007-08.

Of the total, Myanmar's export to South Korea amounted to 63.7 million dollars while its import from the East Asian country stood at 188.48 million dollars.

South Korea has become the 8th largest trading partner of Myanmar which exported to South Korea about 3,000 items of goods covering agricultural produces, marine and forest products, and garments, while it mainly imported from South Korea steel, garment, electrical and electronic goods.