Embassy of Ukraine in the Kingdom of Thailand

Kyiv 09:03

Bilateral Trade

Trade and economic relations between Ukraine and the Republic of the Union of Myanmar

In recent years, the bilateral cooperation between Ukraine and Myanmar had been developed in different areas, especially in trade and economic.

Bilateral trade between Ukraine and Myanmar has grown more than 5 times in 2016 and reached more than 60 million US dollars. There is enormous potential to increase mutually-beneficial trade cooperation and it is therefore important to create appropriate legal base and mechanisms for business-to-business contacts.

Trade between Ukraine and the Kingdom of Thailand in 2014 – 2017

(mln. USD)

 

Trade

7,206      

12,989      

63,216      

47,013      

Export      

6,245

12,059

61,981

44,375

Import

0,961

0,930

1,235

2,638

Trade balance

 +5,284

 +11,129

+60,7465

+41,737

On January 11-12, 2017 the first ever in the history of bilateral relations official visit of the Minister for Foreign Affairs of Ukraine to the Republic of the Union of Myanmar has taken place.

During the visit Minister Klimkin met with the President of the Republic of the Union of Myanmar H.E. Mr. Htin Kyaw, State Counsellor and Union Minister for Foreign Affairs of the Republic of the Union of Myanmar H.E. Mrs. Aung San Suu Kyi and Commander-in-Chief of Defense Services of the Republic of the Union of Myanmar, Senior General Min Aung Hlaing.

The Рarties exрressed mutual interest in strengthening of bilateral relations between Ukraine and Myanmar; discussed perspectives of deepening of cooperation in the framework of international organizations; exchanged views on recent developments in global and regional contexts. The Рarties have also discussed ways of enhancing the legal base of bilateral relations in trade and economic spheres in particular, development of relevant bilateral agreements, namely - on trade and economic cooperation, on promotion and protection of investments and on avoiding of double taxation.

In this regard in 2017 the Embassy initiated the Agreement on cooperation between the Ukrainian League of Industrialists and Entrepreneurs (ULIE) and the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry. The Agreement was signed on the 21st of December 2017.