Union Minister for Commerce Dr Than Myint participated in the opening ceremony of the 6th India-CLMV Business Conclave 2020 jointly held virtually by the Ministry of Commerce and Industry of India and Confederation of India Industry (CII) yesterday afternoon.

At the ceremony, Union Minister Dr Than Myint said India, Cambodia, Laos, Myanmar and Viet Nam are the neighbouring countries with many similarities in culture, art and traditions as well as with strategic political and economic cooperation. He added 2020 is also a significant year for India and CLMV countries to set a milestone in digital economic integration.

He said these countries are still able to share their digital experiences and continued trade and investment cooperation despite the many challenges posed by the COVID-19 pandemic. He urged to cooperate, with the digital technology platform, to reduce the impact of COVID-19 on small and medium enterprises and start-up businesses, to ensure the smooth flow of goods along the supply chains and to promote acceptable business practices and business networking in order to continue to explore new business opportunities.

The Union Minister added although the trade between India and ASEAN countries reached US$97 billion and business in services reached $45 billion in 2018-2019, the trade and investment between India and CLMV countries are still needed to increase.

He said the Mekong-Ganga Cooperation (MGC) is a solid foundation for cooperation in the transport and communication sectors as well as culture, education and tourism sectors between CLMV, Thailand and India and he called on to continue to work together for peaceful, prosperous and strong regional cooperation that can meet global development challenges.

At the ceremony, the Minister for the Ministry of Industry and Commerce of Laos, the Minister of State for the Ministry of External Affairs of India, the Secretary of State for the Ministry of Commerce of Cambodia, the Secretary for Promotion of Industry and Internal Trade Department of the Ministry of Commerce of India, the President and Director-General for the Confederation of India Industry (CII) delivered opening speeches respectively. The ceremony was also attended online by Indian Ambassador to Myanmar Mr Saurabh Kumar and Myanmar Ambassador to India U Moe Kyaw Aung, experts, entrepreneurs and representatives from partner countries.

Plenary sessions were held by each country and representatives from the private sector, and entrepreneurs will participate in the discussion to be held on 4 December.

The Ministry of Commerce, the Myanmar Trade Promotion Agency and the Union of Myanmar Federation of Chambers of Commerce and Industry exhibited rice, sesame, beans, rice, fruits and fishery products at the online fair jointly held with the ceremony. —MNA

(Translated by Ei Phyu Phyu Aung)