Myanmar-Thailand border trade nears US$500M in April-May

Myanmar’s border trade with the neighbouring country Thailand was estimated at US$495 million as of 10 May of the current financial year 2024-2025.
The figures plunged from $829.6 million recorded in the year-ago period, indicating a sharp drop of $334.6 million.
Myanmar conducts cross-border trade with Thailand via the Tachilek, Myawady, Kawthoung, Myeik, Hteekhee and Mawtaung border. Of them, the Hteekhee border performed the most extensive trade worth over $316.54 million in the past two months.
Moreover, the trade values stood at $50.95 million at Myawady border post, $44.64 million at Tachilek, over $35.45 million at Myeik, $39.38 million at Kawthoung and over $8 million at Mawtaung.
Myanmar carries out border trade with neighbouring countries such as China, Thailand, Bangladesh, and India. It exports agricultural products, livestock products, fisheries, minerals, forest products, finished industrial goods, and other goods, while it brings in capital goods, intermediate goods, consumer goods, and raw materials from the CMP enterprises.

Source : The Global New Light of Myanmar

93 freighters depart Mandalay Port in May

A total of 93 cargo ships departed from Mandalay Port for destinations including Yangon, Bhamo, and other townships in May of this year, according to the Department of Marine Administration.
DMA reported an increase in the number of goods being sent from Mandalay Port, such as maize, sugar, cement, and other commodities, due to the ease of transportation via the Ayeyawady River during the rainy season.
A total of 0.63 tonne of cement, 58,049.6 tonnes of maize, 450 tonnes of limestone, 9,957.606 tonnes of molasses, 4,688.35 tonnes of sugar, and 670 rice bags have been transported so far.
“Despite the current high-water levels, cargo ship operators are reminded to adhere strictly to their vessels’ designated weight capacity. The Department of Marine Administration emphasizes that exceeding the tonnage limit or neglecting to consider a ship’s size and weight limitations can pose serious safety risks. 

Source: The Global New Light of Myanmar

Luxembourg entrepreneurs encouraged to invest in Myanmar

Ambassador U Soe Lynn Han, Head of the Mission of the Republic of the Union of Myanmar to Belgium, the Netherlands, Luxembourg and the European Union (European Commission), invited foreign investments from Luxembourg, according to the Ministry of Foreign Affairs.
The fourth ASEAN Day 2024 was held under the theme of “Connecting the dots for a sustainable future” at the Luxembourg Chamber of Commerce on 3 June.
Myanmar Ambassador U Soe Lynn Han attended and elaborated on investment opportunities and challenges. Then, he invited foreign investments from Luxembourg.
Myanmar has enjoyed unilateral trade preference from the EU’s Generalized Scheme of Preference (GSP) and Everything but Arms (EBA Programme).
The Myanmar Ambassador attracted Luxembourg investors to produce import-duty-free goods in Myanmar under the GSP and EBA that can create jobs for locals. Following the presentation of the respective ambassadors from ASEAN regarding investment opportunities in the region, ASEAN representatives met with business delegates from Luxembourg separately and further discussed business and investment opportunities.
Prince Guillaume of Luxembourg attended the 4th ASEAN Day 2024 as honorary chairperson of the Board of Economic Development of the Grand Duchy of Luxembourg, an agency for economic promotion and development.
Mr Xavier Bettel, Deputy Prime Minister of Luxembourg and the Minister for Foreign Affairs and Trade, and Mr Lex Delles, Minister for Economy, SME, Energy and Tourism, also attended the event and joined a business lunch with ASEAN ambassadors.
ASEAN Day 2024 is a biannual event organized by the Luxembourg Chamber of Commerce and ASEAN-Brussels Committee to provide a platform for Luxembourgish companies to exchange information between Luxembourg and ASEAN and explore business opportunities in the ASEAN region. 

Source: The Global New Light of Myanmar