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Border trade up by over $19 mln

THE total border trade value exceeded US$4.16 billion in the first five months of the current financial year, up over $19 million compared with the same period last year, according to the Ministry of Commerce. Till 19 February of 2020-21FY, the total border trade amounted to $4.16 billion, up to $19 million compared with the last year’s figure of $4.14 billion.

The entire border trade value included $2.88 billion in export and $1.28 billion in import. The trade volume at Muse border trade on the China-Myanmar border exceeded $2.18 billion, down over $208 million compared with the same period last year. Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products, manufacturing goods and others to foreign trade partner countries.

In contrast, capital goods, intermediate goods and consumer goods are imported into the country. Myanmar has opened 18 border trade camps. The country conducts border trade with neighbouring China through Muse,
Lweje, Kampaiti Chinshwehaw and Kengtung, with Thailand via Tachilek, Myawady, Kawthoung, Myeik, Hteekhee, Mawtaung and Maese gates, with Bangladesh via Sittwe and Maungtaw, and with India through Tamu and
Reed border crossings respectively.

Source: The Global New Light of Myanmar

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Construction of crop dehydration factory completed by 65% in ChaungU Township

The construction of crop dehydration factory is 65 per cent finished in ChaungU Township, Sagaing Region and about 2,000 tonnes of crops are daily dried on a trial run at present. The factory is started to be developed on 28 December 2018, under the endorsement of the Sagaing Region Investment Committee, said managing director U Aung Naing Oo of Aung Nagani Co., Ltd. The dehydration factory is aimed at fetching a good price in the export market. It will export quality vegetable to foreign countries.

About 30 people will be employed upon the completion of the factory. The crop processing was earlier delayed due to the lack of dehydration factory. They faced market loss owing to the inferior quality then. The dehydration factory is set up to enhance the socio-economy of the farmers and explore more potential markets. Sagaing Region Investment Committee endorsed Aung Nagani Co., Ltd to execute crops drying, categorizing and rice milling and processing activities on 28 December 2018, bringing in the capital of K726.44 million (including US$ 0.113 million).

The factory is located at No. 2038, Kywalkyayoe yard, Ngaya n village-tract, ChaungU Township, Sagaing Region, according to the Directorate of Investment and Company Administration. To simplify the verification of investment projects, the Myanmar Investment Law allows the region and state Investment Committees to grant permissions for local and foreign proposals, where the initial investment does not exceed K6 billion, or $5 million.

Source: The Global New Light of Myanmar