October 07, 2016

Breaking News

Myanmar’s border deals with China hit $500 million over 40 days

Muse trade camp.
Muse trade camp.

MYANMAR’S border trade with China via Muse trade camp recorded more than US$500 million over 40 days between August and September this year, it is learnt from the statistics of the Commerce Ministry.
Muse, the main trade route from northeast Myanmar into China, handles the largest amount of trade among border towns.
A wide variety of goods including raw materials of traditional medicine weighing 500 tonnes, were imported to the neighbouring country through Muse. But, the export volume dropped when compared to the last fiscal year, said Henry, a local merchant in Muse town.
From 12 August to third week of last month, the value of trade from 15 border trade camps—Muse, Lwejel, Kanpiketee, Chinshwehaw, Tamu, Reed, Myawady, Tachilek, Kengtung, Kawthaung, Myeik, Hteekhi, Mawtaung, Sittway and Maungtaw—amounted to nearly $800 million including $531.485 million from the Muse trade camp.
The total trade value of border trade via 15 camps included $474.737 million from the import sector and $323.561 million from the export sector.
Myanmar authorities plan to make negotiation with the countries concerned to open more trade camps to increase cross-border deals.





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