Myanmar explores collaboration opportunities with Common Fund for Commodities

Ambassador U Soe Lynn Han, Head of the Mission of the Republic of the Union of Myanmar to the European Union, as well as Myanmar’s Ambassador to the Netherlands, and Mr Sheikh Mohammed Belal, Managing Director of the Common Fund for Commodities (CFC), met to discuss potential cooperation between Myanmar and CFC.
The discussion took place at the headquarters of the CFC in Amsterdam, the Netherlands, on 2 May, as stated by the Ministry of Foreign Affairs.
The discussion focused on poverty reduction schemes and other related programs implemented by the CFC for people from Commodity-Dependent Developing Countries during the global polycrisis, alongside potential collaborations between Myanmar and the CFC, which might entail the provision of financial and technological assistance by the CFC to Myanmar.
The report states that the CFC has previously undertaken projects in Myanmar’s agricultural sector. The managing director of the CFC discussed how poverty could be eradicated in other developing countries by leveraging the successes of these projects with the right policies. He added that Myanmar and other member countries could apply for funding from the CFC if they are willing to implement similar projects. These initiatives would support countries in achieving the Sustainable Development Goals through investments in the commodity value chains of small and medium-sized companies. — ASH/TMT