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German investors show interest in Myanmar markets

18
Dec '09
Malaysian-German Chamber of Commerce and Industry's last month visit to Myanmar might open new trade avenues in coming months, said a Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) official.

Malaysian-German Chamber of Commerce and Industry representatives visited the country for the first time and studied market potential for trade and investment. These representatives represented German investors interested in investing money in Malaysia and now Myanmar, informed Dr. Maung Maung Lay, General Secretary of UMFCCI.

Feasibility surveys of the Myanmar market was the key objective of this visit, and more visits to the country have already been lined up. The representatives will revisit the country soon to have talk with local authorities and businessmen pertaining to the investments, informed an official of UMFCCI.

Germany is one of the largest trading partners of Myanmar amid all the European nations. Bilateral trade between the two countries is around US $610 million, including $360 million in exports to Germany and $250 million in imports, as per Myanmar's Central Statistical Organization (CSO).

Around 80 percent of Myanmar's exports to Germany comprise garment products, while imports include machinery, chemical products etc. German FDI in Myanmar is just around $15 million, added the official.

Fibre2fashion News Desk - India


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