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France Opens Trade Office in Rangoon, Forgives US$500m in Debt

1 August 2013

France on Wednesday opened a Trade Commission office for Burma at its embassy in Rangoon as trade between the two countries swells, with total exports to France rising 1250 percent in the first five months of this year. Burma’s exports rose to 20.4 million euros (US$27 million) over the period, from just 1.5 million euros last year. France also officially forgave US$500 million in debt owed by Burma, according to Dominique Causse, head of the embassy’s economic service. That decision was made in January, but was officially carried out this week. The commission office’s inauguration was attended by French Foreign Trade Minister Nicole Bricq.