Myanmar holds Vietnamese electronic expo to boost trade

YANGON, May 14 (Xinhua): An electronic and living expo featuring Vietnamese products opened at the Tatmadaw Hall here Friday, which is aimed at boosting bilateral trade between Myanmar and Vietnam. Organised by the Smart Business Group, the expo was attended by Chief Minister of Yangon Region U Myint Swe and officials from the Vietnamese embassy. The four-day exhibition, which attracted 96 Myanmar companies and 24 Vietnamese companies, will run until Monday, according to the director of the Smart Business Group. The event is expected to help create opportunity for Vietnam- made products to come into Myanmar market. According to the official statistics, Myanmar-Vietnam bilateral trade amounted to about US$160 million in 2010, an increase of 60 per cent from 2009. Of the total, Myanmar's export to Vietnam took $108 million, while its import from the Southeast Asian country represented $47 million. Vietnam, which stands the 20th among Myanmar's export markets, mainly imports from Myanmar its forestry products, agricultural produces, seafood and electrical products, spare parts, while exporting to the country steel, electronic equipment, textiles, pharmaceuticals, medicines, construction materials, industrial products, chemical products, computer and accessories, plastic, cosmetics and engine oil. Meanwhile, Vietnam's investment in Myanmar hit $23.649 million as of March this year since Myanmar opened to foreign investment in late 1988, according to official statistics.