Thu 18 Dec 2008
Filed under: Business / Trade,News
Hanoi – Trade turnover between Viet Nam and Myanmar this year will be about US$130 million, according to the Viet Nam General Department of Customs. By the end of November, trade turn-over between the two sides was $118 million, a year-on-year increase of 21.3 per cent.
Of this, Viet Nam’s exports to Myanmar were $28 million, an increase of
28.4 per cent. This is expected to grow to $32 million next year.
Viet Nam’s imports amounted to $90 million, up 19.3 per cent over last year. This includes timber and forest products, agricultural and aquaculture products, and sewing thread.
The country is now the 11th largest importer from Myanmar.
Viet Nam is the 15th biggest exporter to Myanmar, including steel which for the first 11 months of the year reached $4 million.
Other major exports to Myanmar include electrical products, medicine, medical equipment, building material, mosquito nets, chemicals, office machines, cosmetics, plastic products and pesticides.
The Viet Nam Trade Office in Myanmar said that Viet Nam should export new products next year, such as fertiliser, farming tools and processing machinery, and forestry and aquaculture products.
The office said Viet Nam had many export advantages in trading with Myanmar. These included good relations, cheap products, and quality.
However, it said the Myanmar Government still subsidised some sectors, such as electricity, fresh water and petrol.
Import-export procedures were also complicated. After signing contracts, companies had to wait four to six months for the completion of administrative procedures. – VNS