Myanmar-china border trade in focus
THE early implementation of bilateral border trade cooperation zone and the promotion of border trade, and investment between Myanmar and China were during a meeting earlier this week the Ministry of Commerce has announced.
Minister of Commerce U Than Myint met with a Chinese delegation led by Mr Chen Hao, Communist Party Secretary of Yunnan Province on Monday.
The discussions covered cooperation into parts of the economic corridor under China’s One Belt One Road project and the implementation of partnership agreements, including the implementation of bilateral border trade cooperation zone, border trade promotion, improving agricultural and livestock industries in Myanmar and cooperation in trade and investment in the Shweli-muse area.
Yunnan Province is engaged in significant levels of trade with Myanmar around Muse which is a major border trading point along the border between the two countries besides the Lwejel, Kanpite Tee and Chin Shwehaw border trading points.
According to the ministry, the four border trade centres recorded trade volume of US$3.3 billion (K5 trillion) between April and September, with Muse alone accounting for US$3 billion of the total.
Myanmar exported goods worth US$2.4 billion to China while imports totalled US$900 million.
In the five-year period up to this year, Myanmar has benefited from a trade surplus in trade along the border areas with China.