For cross-border trade in Rakhine State, the registration of a vessel is charged US$50 and the weighted average price is set at five dollars per freight tonne as per the Marine Fisheries Law, Rakhine State Fisheries Department stated. The direct export system facilitates the trade flow and brings about more benefits to the exporters and the breeders. The department earns revenue from the vessels that directly send the fishery products to Bangladesh’s Port.
Sittway and Maungtaw border posts in Rakhine State with Bangladesh have resumed operations since 14 October 2021. Additionally, the department made efforts to raise the revenue from the aquaculture exports. In November, the revenue of US$10,250.59 was generated from 11 vessels. As of the end of October in the 2021-2022 mini-budget period, over $6.677 million worth of 5,547.57 tonnes of freshwater fish and dried fish were shipped to Bangladesh via border posts.
Freshwater fishery products constituted 65 per cent of overall seafood exports, while rohu accounted for 75 per cent of freshwater fish exports. The exports of fishery products to Bangladesh generated $6.318 million from 7,089 tonnes of seafood in the financial year 2019-2020. The trade flow plummeted drastically owing to the impacts triggered by the COVID-19 pandemic in the 2020-2021FY. Myanmar earned only $4.76 million by exporting 5,010 tonnes of fishery products last year.
Source: The Global New Light of Myanmar