Conference on direct use of Yuan/Kyat in Sino-Myanmar border trade held

A conference on the direct use of Yuan/Kyat in Sino-Myanmar border trade was held at Mingala Hall of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry in Yangon at 1 pm yesterday in line with COVID-19 prevention protocols.
Deputy-Governor of the Central Bank of Myanmar Daw Than Than Swe and officials, Secretary of the Working Committee on Ensuring of the smooth flow of Trade and Goods, officials from Myanma Economic Bank and Departments, President and officials from UMFCCI. Officials from the Myanmar Banking Association and private banks, officials from Industrial and Commercial Bank of China (ICBC) and Bank of China (BOC) foreign branches, Export and Import Traders, officials from the associations attended the meeting.
Chairman of the Working Committee Deputy Minister for Commerce U Nyunt Aung and officials from the department attended the meeting via video conference.
First Deputy Minister U Nyunt Aung delivered an opening address online.
Next CBM Deputy-Governor Daw Than Than Swe explained the purpose of direct use of Yuan/Kyat in border trade between Myanmar and China, and policy, process and its benefits were also discussed in detail.
Afterwards, the Managing Director of Myanma Economic Bank, officials from ICBC and BOC discussed banking services issues.
The traders who attended the meeting also discussed banking arrangements, payment methods, proposed exchange rates, trade documents to be obtained for border trade, banking rates and funding programs.
Officials from the Central Bank of Myanmar and departmental officials held the discussions. CBM Deputy-Governor Daw Than Than Swe coordinated the meeting and made concluding remarks. — MNA