Myanmar has resolved payment issues for Russian travelers and is accepting Mir bank cards, Russian Economic Development Minister Maxim Reshetnikov announced on Tuesday, August 18.
Speaking after negotiations with representatives from Myanmar, Reshetnikov said the Southeast Asian nation was a highly attractive destination for tourists, state news agency RIA Novosti reported.
Reshetnikov added that government officials were also working to resolve remaining questions regarding direct flights between the two nations, noting that resolving payment difficulties opens up numerous opportunities for visitors and businesses.
The Mir card network is Russia's national payment system, established by the Central Bank of Russia in 2014 to process electronic funds transfers. Myanmar is a sovereign nation in Southeast Asia that has sought closer commercial and financial ties with Moscow.
Expansion of Russian payment system
Efforts to integrate the Russian payment card network into Myanmar's financial infrastructure have been progressing over the past three years. Central Bank of Myanmar Governor Than Than Swe previously announced in June 2023 that the country intended to start accepting Mir cards by the end of that year.
A year later, in the summer of 2024, the Russian Embassy in Myanmar confirmed that Mir cards had begun operating in a limited capacity across selected local restaurants and shopping centers.
The latest announcement confirming broader acceptance comes while the president of Myanmar is visiting Russia on an official state visit.
Bilateral relations and economic forum
Russian President Vladimir Putin met with Myanmar President Min Aung Hlaing on Tuesday, August 18, to discuss diplomatic relations and economic cooperation.
At the start of their meeting, Putin expressed gratitude to Min Aung Hlaing for assisting in the development of relations between Russia and the Association of Southeast Asian Nations, the regional intergovernmental organization known as ASEAN.
Putin stated that the two countries collaborate actively in the international arena. He added that further joint work was necessary on the economic track, where he said strong foundations and good projects are already in place.
Bilateral talks are set to continue at the Russian-Myanmar Business Forum, scheduled to take place on Wednesday, August 19, at the Plekhanov Russian University of Economics, a major public university in Moscow.
