May 4, 2014

China remains as Myanmar’s top trading partner

China continues to rank as the top trading partner with more than US$ 7 billion worth of transactions in the previous fiscal year, according to the Ministry of Economic and Commerce.

In the fiscal year 2013-2014, the country’s international trade amounts to $ 24.86 billion, of which the biggest volume is attributed to China-Myanmar trading.

The country’s second trade partner is Thailand with the trading value of $ 5.5 billion.

Myanmar’s exports to China amount to $ 2.9 billion and its imports is more than US$ 4 billion.

Myanmar mainly sold rice, corn, green gram, pigeon pea, sesame, rubber, fishery products, teak, hardwood, raw metal, natural gas, jade, garments to China, India, Bangladesh, Australia, UAE, Belgium, Indonesia, Italy, Japan, Korea, Malaysia, Pakistan, Philippines, Russia, Saudi Arabia, Singapore, Spain, Thailand, UK, USA, and Vietnam, according to the press release by Central Statistics Organization.

Aside from exporting by freight overseas, Myanmar relies on overland trading with China, Thailand, Bangladesh and India through border towns, Muse, Chinshwehaw, Kanpaikti at China borders, Myawady, Techilek, Kawthaung, Myeik at Thailand border s, Sittwe, Maungdaw at Bangladesh borders, and Tamu, Riv at India borders.

Inspite of China-Myanmar trade increase, smuggling of natural resources from Myanmar has persisted through more than 20 illegal gateways at the borders opposite China.

Cows, snakes, turtles, fishery products, wood products and mine products are smuggled into China while car and motor-cycle spare parts, cosmetics, beer, diesel, clothing, electronic sets, and mobile handsets are illicitly shipped into Myanmar.

Illegal exports such as jade, turtles and snakes, mining products would be transported by family cars from Mandalay, dropped in some villages at midnight or early morning, before switching to different vehicles or other transport through porous borders.

Source: Eleven Weekly Media