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Myanmar’s border trade reaches $6.36 bln in first 8 months of FY2020-21

Myanmar’s trade with foreign countries through border gates reached over US$6.36 billion as of 7 May in the current financial year (FY) 2020-2021, which started in October, according to figures released by the Ministry of Commerce. During the period, the country’s export via border gates amounted to $4.32 billion while its import shared $2.04 billion. This FY’s border trade dropped by over $853 million, compared to the same period of the last FY2019-2020 when it amounted to $7.21 billion, the ministry’s figures said.

Muse topped the list of border checkpoints with the most trade value of $3.45 billion, followed by Myawady with $941 million. 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 Meisei gates, with Bangladesh via Sittway and Maungtaw and with India through Tamu and Reed border gates, respectively.

According to the Commerce Ministry, from 1 Oct 2020 to 7 May 2021 of this FY, the country’s foreign trade totalled over $18.09 billion while its sea trade valued $11.73 billion. 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. 

Source: The Global New Light of Myanmar

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Myanmar pharmaceutical imports top $228.5 mln in five months

The import value of Myanmar pharmaceutical products was estimated at US$228.5 million in the five months (Oct-Feb) of the current financial year 2020-2021, according to Myanmar Customs Department.

Myanmar imports 90 per cent of medicine and medical products through foreign markets, the Myanmar Chamber of Commerce for Pharmaceutical & Medical Device (MCCPMD) stated. India is the main supplier for Myanmar. Also, it is imported by Bangladesh, China, Germany, Indonesia, Japan, Republic of Korea, Malaysia, the Philippines, Singapore, China (Taipei), Thailand, US and Viet Nam.

Trade has returned to normalcy after panic buying during the coronavirus pandemic. Most commonly prescribed drugs are available in the market. Only some are out of stock for now. At present, pharmaceutical import is regularly flowing. However, the prices of pharmaceuticals were up by 5 to 10 per cent, owing to the dollar appreciation. The Ministry of Commerce has cut the red tape for imports of some pharmaceuticals which have been earlier imported.

Source: The Global New Light of Myanmar

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Man Wein closure turns export products to China through Kyin San Kyawt checkpoint

The products that have been usually exported to the Man Wein checkpoint are now going to China through Kyin San Kyawt checkpoint due to the Man Wein checkpoint closure, said ViceChair U Min Thein of Muse Rice Wholesale Centre.
Man Wein checkpoint, which is one of the major border crossings between Myanmar and China, was closed on 30 March because of the COVID-19 outbreak. Now, the Man Wein checkpoint has been closed temporarily. Thus, rice and broken rice, pulses, aquatic products, onion, and chilli are exported to China through Kyin San Kyawt (Wan Ding) checkpoint. Earlier, the Kyin San Kyawt (Wan Ding) checkpoint used to export only the fruits such as watermelon, muskmelon and mangoes. Now, with the closure of Man Wein checkpoint, the foodstuffs are exported through the Kyin San Kyawt (Wan Ding) checkpoint. Besides, export of all the foodstuffs to China through the Kyin San Kyawt checkpoint has been delayed. It has been delayed.

Yesterday, watermelon and muskmelon were given priority to export to China via the Kyin San Kyawt checkpoint. A total of 315 truckloads entered through the Kyin San Kyawt checkpoint, including 215 truckloads of fresh stuff, 24 truckloads of rice and broken rice, 33 truckloads of pulses, seven truckloads of onion and four truckloads of chillies. But, a fiveday queue at the Man Wein post takes about 15 days in the Kyin San Kyawt checkpoint. The cargos were also inspected at the checkpoint, and it takes a long time. Currently, the Man Wein checkpoint has been closed for over one month because of COVID-19, and it has not been planned to reopen yet, according to the Muse 105th Mile Trade Zone, the Trade Department under the Ministry of Commerce. With the declining number of COVID-19 positive patients in the Kyalgaung area, the lockdown restriction imposed on the Kyalgaung area has been lifted starting from 4 May.

But, the observation is still going on for another three more months. As a result, the Man Wein checkpoint has not been planned to reopen. Further, in coordination with the Ruili Foreign Relations Department, the Man Wein checkpoint has not been reopened yet, and it will be reopened only after having the detailed plan, according to the Muse 105th Mile Trade Zone, the Trade Department. Therefore, the relevant traders will be informed if China has an official notification to reopen the crossing. The five land borders linking China and Myanmar are Muse in northern Shan State, Lwejel in Kachin State, Chinshwehaw in northeastern Shan State, Kampaiti in Kachin State and Kengtung in eastern Shan State, according to the Ministry of Commerce. Muse border sees an enormous volume with an estimated value of more than US$ 2.53 billion this FY between 1 October and 16 April. It decreased by over $35.3 million compared with the last year’s figures of $3.35 billion, the Ministry of Commerce’s data showed.

Source: The Global New Light of Myanmar