MRF-PITC meeting to boost bilateral economic cooperation

Myanmar Rice Federation (MRF) met with officials of the Philippine International Trading Corporation (PITC) during its visit to the Philippines, MRF announced.
The 25-member Myanmar delegation led by MRF’s chair went to the Philippines between 6 and 9 June, intending to promote trade, deepen ties of the business persons between the two countries, accelerate interconnection of the institutions and exchange market information.
They discussed exclusively with eight Philippines companies that are purchasing Myanmar’s rice, broken rice, corn and green gram.
During the visit, they met PITC’s President & CEO USEC Emmie Liza Perez-Chiong, DMD under the Department of Trade and Industry of the Philippines and signed a Memorandum of Agreement-MOA for the cooperation between the PITC and MRF.
Afterwards, the Myanmar delegation discussed with Mr George Barcelon, President of the Philippines Chambers of Commerce and Industry (PCCI) and Filipino entrepreneurs at the head office of PCCI in Manila on 9 June, highlighting the promotion of bilateral economic integration, working together for private sector development and strengthening relations of the entrepreneurs of the two countries as ASEAN member countries in the ASEAN Economic Community, MRF stated.
MRF aims to achieve a rice export target of 2.5 million tonnes in the current financial year 2023-2024, generating an income of US$1 billion.
Myanmar exported 2,261,203 tonnes of rice and broken rice to foreign trade partners in the 2022-2023 FY, bagging $853.472 million. The Philippines was ranked fourth among those countries, with over 202,000 tonnes of rice and broken rice.
Myanmar has been exerting concerted efforts to grow 10 per cent yearly in the rice export sector. To raise foreign income, it has been prioritizing the exportation of high-grade rice and boosting export volume, MRF stated. — NN/EM

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