Thu 26 Feb 2009
Filed under: Business / Trade,News
Businessmen of Myanmar and Indonesia are coordinating to hold a trade fair in Myanmar’s former capital of Yangon in July this year to boost bilateral trade.
The Myanmar-Indonesia trade fair, sponsored by the Union of Myanmar Federation of Chambers of Commerce and Industry and the Chamber of Commerce Industry of Indonesia, will comprise over 60 booths from the two countries, the 7-Day News said Thursday.
On display at the Myanmar booths will be agricultural produces, while that at the Indonesian’s will be metals, electrical goods, medicines, and textile, the sources said.
Indonesia mainly imports from Myanmar red onion and beans and pulses.
Indonesia is Myanmar’s fourth largest trading partner among members of the Association of Southeast Asian Nations after Thailand, Singapore and Malaysia, having a bilateral trade with Myanmar standing at 293.96 million U.S. dollars in the fiscal year of 2007-08.
Indonesia’s exports to Myanmar amounted to 207.24 million dollars, while its imports from Myanmar valued at 86.72 million dollars, Myanmar official statistics show.
In 2006, Indonesia established its first direct sea trade route with Myanmar operating between Jakarta and Yangon, broadening its network in the Southeast Asian region, according to earlier local reports.