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Myanmar, Germany set to further promote bilateral trade
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GERMANY and Myanmar will promote bilateral trade through the German Myanmar Business Chamber (GMBC), official media reported Saturday.
The GMBC, officially launched on Friday, will serve as a business platform between German and Myanmar companies while seeking to establish a dialogue with the Myanmar government on economic frameworks, said the Global New Light of Myanmar.
The chamber with an inaugural membership of more than 50 companies will work closely with the Delegation of German Industry and Commerce that has operated an office in Myanmar since 2013, the report quoted GMBC's Founding President Jens Knoke as saying.
Despite 60-year-old diplomatic ties between the two countries, the GMBC is the first bilateral business chamber for German and Myanmar companies in the country.
According to official statistics, the volume of bilateral trade between the two countries amounted to 247 million U.S. dollars in 2014. Of which German's export to Myanmar reached 147 million U.S. dollars.
Germany's exports to Myanmar are machinery, data-processing equipment, electrical and optical goods, chemical products, motor vehicles and parts and pharmaceutical products, while its import from Myanmar is garments.
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