Fri 23 May 2014
Filed under: News,On The Border,Regional
Myanmar-China border trade has reached US$268 million between April 1 and May 15, since the start of the current fiscal year.
The Muse border point is the main transaction hub earning US$231 million, followed by Chinshwehal which earned US$24 million, Kanpitetee US$7 million, and Lweljel US$5 million, according to the Department of Commerce and Consumer Affairs.
Presently, there are 14 border camps running trade with China, Thailand, India and Bangladesh.
There is a plan to expand more checkpoints for border trade, including the Mylar Checkpoint on the Myanmar-China border; Mese, Payarthonesu, Ponperkyin checkpoints on the Myanmar-Thailand border, and the Htantalet Checkpoint on the Myanmar-India border.
Agriculture and farm products, minerals, forest products and industrial products are the main exports while commodities, raw materials, electronics and machinery are the main imports from neighbouring countries.
The Myanmar government has already signed trade deals with neighbouring countries and joint operations are underway to prevent contraband along border areas and also sea lanes.
In last fiscal year, the trade amount between four neighbouring countries reached US$4.5 billion and most of it was earned from commerce with China.