Mandalay Region Chamber of Commerce and Industry (MRCCI) met a US delegation on Monday to discuss agricultural exports to the US, bilateral trade promotion and providing technical assistance at the MRCCI hall inside the Yadanarbon center, Mandalay Region.
The chair of MRCCI and its executive members presented gifts to the delegation, led by the US Deputy Chief of Mission Mr George Sibley, and took commemorative photos.
Afterwards, Sibley and his delegation visited the American Business Corner (ABC) at the MRCCI.
That ABC was opened on 12 March, 2019 to assist businesses in Mandalay Region and strengthen trade ties between the US and Myanmar’s second city, Mandalay.
Myanmar’s trade with the US was worth US$631.46 million during the Oct-April period, with $364.2 million in exports and $267.15 million in imports, according to the Commerce Ministry.
Rice, various types of pulses, forest products, fish, prawns, apparel, garments produced with the cut-make-pack system and other finished industrial goods were shipped to the US. Meanwhile, Myanmar mainly imported personal goods, capital goods and industrial raw materials from the US.
Under President Barack Obama’s government, the US reinstated Myanmar’s eligibility for a generalized system of preferences and benefits, after the imposition of economic sanctions against Myanmar for more than two decades.
Myanmar’s bilateral trade with the US stood at $455.72 million in the past mini-budget period, $718.3 million in the 2017-2018 FY and $690.6 million in the 2016-2017 FY.—Tin Maung/ Ko Khant
(Translated by Ei Myat Mon)
