Myanmar Rubber Forum 2023: Prime Minister addresses the opening ceremony

The Myanmar Rubber Forum - 2023 commenced in Nay Pyi Taw on Thursday, with the attendance of Chairman of the State Administration Council, Prime Minister Senior General Min Aung Hlaing. In his opening speech, the Prime Minister emphasized the significance of the rubber industry within the national export strategy's priority sector.

He stressed the need for a systematic approach, covering the entire process from basic industrial work to the production of value-added products. The Prime Minister urged constant research for nurturing high-quality rubber species, fostering the production of tyres for bicycles and motorcycles as import substitutes, leading to market penetration, job creation, and reduced reliance on foreign currency.

He also called for effective delegation of responsibilities among private entrepreneurs and rubber growers, with the government providing necessary policies and guidelines. The purpose of organizing the forum was then explained by Union Minister for Agriculture, Livestock and Irrigation U Min Naung, followed by the screening of a video clip on Myanmar Rubber Cultivation and Production.

After the ceremony, the Prime Minister and party explored various booths showcasing rubber cultivation, farm implements, locally-made tyres for motorcars, bicycles, and motorcycles, and other rubber-related products.

The theme of the event, "Promoting the Production of Value-Added Products for the Sustainable Development of the Rubber Industry," underlines the forum's aims, which include promoting rubber production and enhancing its quality, developing rubber-based value-added products with competitiveness, and establishing the necessary institutions, policies, laws, and regulations for the growth of the rubber industry. Currently, rubber cultivation covers 1.64 million acres across nine regions and states, yielding over 300,000 tons of rubber from about one million acres.

Of this, more than 20,000 tons are consumed domestically, with around 300,000 tons exported annually, contributing to annual earnings of 250 to 450 million US dollars from the fiscal year 2018-2019 to 2022-2023. Efforts are now underway to export about 400,000 tons of rubber in the upcoming fiscal year, 2023-2024.