French business group seeks trade increase
THE French Myanmar Chamber of Commerce and Industry is taking a delegation of local firms to France next month, and is planning to a hold a French fair in Yangon later this year as part of efforts to boost trade relations between the two nations.
The aim of the trade mission is to help Myanmar companies link up with buyers, suppliers and partners in Europe, according to officials from the chamber.
“Commercial relations between the two countries are developing and it will continue to be so in the future,” said Guillaume Rebière, executive director of CCI France Myanmar. “We are not only here to help French companies invest in Myanmar. We also want to play a part in the sustainable development of [the] Myanmar economy by local companies.”
The industry body will be looking to connect French firms with local companies, including those working in the food, agriculture and timber sectors.
Currently, French investors in Myanmar are largely focused on construction, hotels and tourism, food and beverage, and oil and gas, the chamber said.
Myanmar imports of French products rose 66 percent in 2014 to 94 million euro (US $103 million). Products ranging from aeronautical equipment to pharmaceuticals and cars are among those commonly shipped in, according to the CCI France Myanmar.
Local exports to France more than doubled to 62 million euro in 2014, with products including jewelry and garments among those commonly shipped.
Mr Rebière said ensuring European quality standards for local products and adhering to customs processes in the EU were among the challenges encountered among local exporters eying the European market. These barriers would be overcome, he said, as relations between the two nations developed.
The visit will take place from October 16 to 20, and the French product fair will take place on December 1 at Novotel Yangon Max.
Workers stich clothes at a garment factory. Garments and textiles are among the main products that Myanamr exports to France.