Mon 29 Jun 2009
Filed under: Business / Trade,News
Bilateral trade between Myanmar and Indonesia hit $238.69 million in the fiscal year of 2008-09 which ended in March, according to the Ministry of Commerce today.
Of the total, Myanmar’s export amounted to $28.35 million, while its import took $210.34 million, suffering a trade deficit of $181.99 million.
Indonesia is Myanmar’s fourth largest trading partner among members of the Association of Southeast Asian Nations (ASEAN) after Thailand, Singapore and Malaysia.
Indonesia stood the 9th among the Myanmar’s foreign investors, taking over $241 million or 1.5 percent of the country’s foreign investment.
Agricultural produces are among Indonesia’s imported goods from Myanmar. Indonesia imported from Myanmar beans and pulses, onions and marine products, while it exported to Myanmar in return crude oil, cigarettes and medicines.
Indonesia’s beans and pulses import from Myanmar amounted to 20, 000 tons annually, according to traders.
Meanwhile, Myanmar and Indonesia are seeking direct trade link, direct banking transaction and direct Anon-Jakarta air link to boost their bilateral economic and cooperation.
So far, the two countries are trading through Malaysia, carrying out banking transaction through Singapore and connecting without direct air link.