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Four more million doses of Sinopharm COVID-19 vaccines purchased from China arrive in Yangon

by COVID

As a measure to prevent and control the spread of COVID-19, the Ministry of Health is administering the COVID-19 vaccines to the target groups. Of 24 million doses of Sinopharm COVID-19 vaccines purchased from the People’s Republic of China, 4 more million doses arrived at the Yangon International Airport yesterday and were received by the head of Yangon Region Medical Services/ Public Health Departments and official.

These vaccines will be distributed to regions and states based on the requirement, via road transport or with the help of the Tatmadaw (Air) and Myanmar airways in the cold chain. The newly arrived COVID-19 vaccines will be given to the original target groups and extended groups according to their priorities.

Till 26 September, two million doses of COVISHIELD, 10 million doses of Sinopharm and two million doses of Sinovac purchased by the Ministry of Health, totalling 14 million have arrived in Myanmar. The people are urged to receive the COVID-19 vaccines, and those who have already received the first dose are encouraged to go to the nearest immunization centres and receive the second dose on the scheduled immunization date or near the due date, as well as to actively participate in the vaccination activities.

Source: The Global New Light of Myanmar

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Myanmar aquaculture exports down by $66 mln this FY

by TRADING

The value of Myanmar’s aquaculture exports as of 10 September 2021 has dropped dramatically to US$742.7 million since 1 October 2020, falling short of $66 million to reach the value recorded during the year-ago period, as per the statistics released by the Ministry of Commerce. Myanmar shipped $808.85 million worth of fishery products to the external market in the corresponding period of the last FY. Myanmar Fisheries Federation (MFF) is attempting to grow fishery export regardless of the COVID-19 disruption on maritime trade, closure of land borders and fuel oil price instability due to Kyat depreciation. Despite the open season of offshore fishing, Myanmar’s fishery export industry is facing a series of challenges such as the oil price hike, surge in container shipping rate, the closure of border posts, disruption on maritime trade and the COVID-19 negative impacts.

Consequently, it will harm the export sector somehow in the long term. “If the border post resumes the trade activity, the trade will go smoothly. The closure of the border posts is triggered by the COVID-19 threats. The cross-border between Myanmar and Bangladesh is still open for trade. The federation is planning to export fishery products to Bangladesh. Myanma Port Authority is also ensuring smooth freight flow with non-stop operation. The federation is attempting to tackle this fishery export hurdles,” said Dr Toe Nanda Tin, senior vice-president of MFF. The price of fish fell by half. The high input cost such as fishing net, oil price posed another burden for the industry, coupled with the devaluation of Kyat in the forex market, Mawlamyine Commodity Centre stated.

The marketable fish products, especially fish, shrimp, eel and crab from Taninthayi and Ayeyawady regions and Rakhine State are primarily exported to foreign markets. The federation is turning to the Bangladesh market with export potentials. MFF is working together with the stockholders in the supply chain to have sustainable export growth. The fishery exports through the Sino-Myanmar border has ground to a halt following the consequences and safety measures on the imported seafood amid the COVID-19 pandemic, traders stressed. Myanmar’s fishery export was experiencing a downturn due to the import restrictions triggered by the detection of the COVID-19 on fish imports in China. Chinese market constitutes about 65 per cent of Myanmar’s fishery exports. China accounted for US$254 million out of overall fishery export value of $850 million in the past financial year 2019-2020. At present, China shut down the border areas in wake of the COVID surge in Myanmar.

Food and Agriculture Organization (FAO) and World Health Organization (WHO) issued guidelines to ensure food safety during the COVID-19 pandemic in April 2020. The permitted companies are advised to carry out food safety plans, follow the guidelines of WHO and FAO, formulate the safety management system and suspend the exports if any suspicious foodborne virus or virus infection risk are found in the products. The export is likely to resume once the products meet food safety criteria set by the General Administration of Customs of the People Republic of China (GACC). Myanmar Fisheries Federation stated that only the G2G pact can tackle problems which faced in the export of farm-raised fish and prawns and ensure smooth freight movement between countries to bolster exports.

During the last FY2019-2020, MFF expected to earn more than $800 million from fishery exports and it reached a target. Myanmar exports fisheries products, such as fish, prawns, and crabs, to markets in 40 countries, including China, Saudi Arabia, the US, Japan, Singapore, Thailand, and countries in the European Union. The MFF is making concerted efforts to increase fishery export earnings by developing fish farms that meet international standards and adopting advanced fishing techniques. To ensure food safety, the foreign market requires suppliers to obtain Hazard Analysis and Critical Control Points (HACCP) and Good Aquaculture Practices (GAqP) certificates. To meet international market standards, fishery products must be sourced only from hatcheries that are compliant with GAqP.

The MFF is working with fish farmers, processors, and the Fisheries Department under the Ministry of Agriculture, Livestock, and Irrigation to develop the GAqP system. Processors can screen fishery products for food safety at ISO-accredited laboratories under the Fisheries Department. There are 480,000 acres of fish and prawn breeding farms across the country and more than 120 cold-storage facilities in Myanmar. Myanmar exported 340,000 tonnes of fishery products worth $530 million in the 2013-2014FY, 330,000 tonnes worth $480 million in the 2014-2015FY, 360,000 tonnes worth $500 million in the 2015-2016FY, 430,000 tonnes worth $600 million in the 2016-2017FY, 560,000 tonnes worth $700 million in the 2017-2018FY and 580,000 tonnes worth over $730 million in the 2018-2019FY respectively, according to the Commerce Ministry.

Source: The Global New Light of Myanmar

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16.7% coverage of COVID-19 vaccination in Myanmar

by COVID

The COVID-19 vaccine is being given to 36.9 million people over the age of 18 in Myanmar, and 16.7 percent of the vaccinations have been completed so far, according to the Ministry of Health. 20% vaccine coverage by the end of September; Vaccination coverage is expected to reach 50 percent by the end of 2021 and 70 percent by mid-2022, with the current vaccination rate at 16.7 percent, according to the Ministry of Health.

As of September 21, 3.583 million people had received two doses of the COVID-19 vaccine. 2.575 million people who have been vaccinated once; A total of 6.1159 million people have been vaccinated and 9.742 million vaccines have been vaccinated, according to the Ministry of Health. Currently, 2 million Covishield vaccines purchased from India are available in Myanmar. 1.7 million donated vaccines; Two million Sinopharm (Beijing) vaccines purchased from China; Two million Sinovac vaccines; 0.5 million donated vaccines.

Of the 24 million vaccines purchased with the second donation, four million have been purchased and a total of 14.2 million vaccines have been delivered, according to the Ministry of Health. The COVID-19 vaccine will be given to priority groups as well as to ethnic armed groups and refugee camps, according to the Ministry of Health. The COVID-19 vaccine has been available in Myanmar since January 2021. The current vaccines in China are the COVID-19 vaccine, Sinopharm and Sinovac, which are WHO-approved emergency vaccines and can be given indefinitely for those over 18 years of age, according to the WHO guidelines.  

Source: Daily Eleven

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Myanmar border trade hits over $9.13 bln this FY

by TRADING

Myanmar’s border trade hit over US$ 9.13 billion in the financial year 2020-21, down over $1.32 billion compared with that of the same period of last FY, according to figures released by the Ministry of Commerce. Border trade with Bangladesh, India, Thailand and China has declined compared to the last FY.

During the period, the country’s export via land borders amounted to $5.9 billion while its import shared $3.16 billion. This FY’ border trade decreased by over $1.32 billion compared to the same period of last FY when it amounted to $10.45 billion, the ministry’s figures said. Muse topped the list of border checkpoints with the most trade value of $3.6 billion, followed by Myawady with $1.8 billion.

The country conducts border trade with neighbouring China through Muse, Lweje, Kampaiti Chinshwehaw and Kengtung crossings, with Thailand via Tachilek, Myawady, Kawthoung, Myeik, Hteekhee, Mawtaung and Meisei checkpoints, with Bangladesh via Sittway and Maungtaw and with India through Tamu and Reed border posts, respectively. Myanmar’s major export items are farm, animal, marine, forest, mining, CMP and other products. Myanmar mainly im ports capital goods, industrial raw materials, personal goods and CMP raw materials.

Source: The Global New Light of Myanmar

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Since February, 38 factories have been closed in Hlaing Tharyar Industrial Zone and Shwe Thanlwin Industrial Zone in Hlaing Tharyar Township, leaving nearly 10,000 workers unemployed

by MANUFACTURING

Hlaing Tharyar Industrial Zone and Shwe Thanlwin Industrial Zone in Hlaing Tharyar Township have closed 38 factories since February, and nearly 10,000 workers lost their jobs, according to the Industrial Zone Committees on September 23. There are 29 factories in Hlaing Thar Yar Industrial Zone that have been temporarily closed since February. About 7,000 workers have lost their jobs as a result of the closure of the 29 factories, according to an official from the Hlaing Thar Yar Industrial Zone Committee. 

This year, 29 factories have been closed in Hlaing Thar Yar Industrial Zone. This year, starting in February. What they are submitting to us is that the block is temporarily closed. As for the salaries of the workers, if the factory closes, they will have to pay compensation. As far as it is concerned, about 7,000 workers have lost their jobs due to the closure of those 29 factories, said an official. Similarly, in Shwe Thanlwin Industrial Zone, there are nine factories that have been temporarily closed and closed. An official from the Shwe Thanlwin Industrial Zone Committee said that the closure of the nine factories had left nearly 3,000 workers unemployed.

In Shwe Thanlwin Industrial Zone, there were 12 closed factories. Of the 12 factories, only three have been reopened, with only nine remaining. From January this year until now. When it comes to workers’ salaries and wages, It is closed after clearing everything. Some factories are said to be closed, but others are temporarily closed. There are relocations. Add to that the closure of these factories, bringing the total number of unemployed to more than 2,000. Because some factories alone have about a thousand workers. Some factories are small. So, in total, more than 2,000. There are almost three thousand. It is an estimate, said an official from the Shwe Thanlwin Industrial Zone Committee. 

On September 21, the Myanmar Unique garment factory in Hlaing Tharyar Industrial Zone was temporarily closed due to a lack of orders. The factory has not received orders from the factory since 2020. Due to Kovis disease; According to a factory official, the factory will be temporarily closed from September 21 due to political reasons. The Myanmar Unique factory also had layoffs during the Kovis period, and the remaining workers were legally compensated when it was temporarily closed. The factory has been operating for about five years. Currently, there are more closed factories and more unemployed workers in Burma, according to labor representatives.     

Source: Daily Eleven

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Myanmar-Thailand bilateral border trade tops $3.7 bln this FY

by TRADING

Bilateral border trade between Myanmar and Thailand reached over US$3.7 billion as of 10 September in the present financial year 2020-2021 which started in October, the Ministry of Commerce’s trade data showed. The country’s export to Thailand totalled $2.44 billion while its import shared $1.29 billion during the period. This budget year’s figures decreased by $95 million, compared to the same period in the last fiscal year.

Myanmar mainly conducts border trade with neighbouring Thailand through seven border checkpoints—Tachilek, Myawady, Kawthoung, Myeik, Hteekhee, Mawtaung and Meisei gates. During the period, Myawady border gate topped with $1.79 billion trade. The country’s agricultural and fishery products are exported to Thailand while cosmetics, food products and machinery and raw industrial goods such as cement and fertilizers are imported.

The bilateral trade between Myanmar and Thailand stood at $3.7 billion in FY2020-2021 (as of September), $5.1 billion in FY2019- 2020, $5.5 billion in FY2018-2019, $2.9 billion in the mini-budget year of 2018 or transitional period from April to September this year, $5 billion in FY2017-2018, $4.3 billion in the 2016-2017FY, $4.8 billion in the 2015-2016FY, $5.7 billion in the 2014-2015FY, $5.6 billion in the 2013-2014FY, $4.7 billion in the 2012-2013FY, and $4.5 billion in the 2011-2012FY, according to the Myanmar Ministry of Commerce.

Source: The Global New Light of Myanmar

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Myanmar’s bilateral trade with Germany reaches $460 mln in past ten months

by TRADING

The value of trade between Myanmar and Germany from October to July of the current financial year 2020-2021 exceeded US$460 million, according to data of the Ministry of Commerce. Myanmar’s export to Germany surpassed its import, with $349.882 million worth of export and $110.79 million valued import, according to the statistics released by the Ministry of Commerce. Beyond the regional trade regime, Myanmar has established trade links with EU members.

Germany is the biggest trade partner of Myanmar in European Union, followed by Spain. The main export items are rice, pulses, tea leaf, coffee, garments on a Cut-Make-Pack basis and fisheries. Meanwhile, machinery, data-processing equipment, electrical and optical goods, chemical products, motor vehicles and parts and pharmaceutical products, cosmetics, food and beverages and consumer goods are imported into Myanmar.

Myanmar reinstated the EU’s Generalized Scheme of Preference starting from 19th July 2013. Myanmar can enjoy GSP for the export of fisheries, rice, pulses, agro products, bamboo and rattan finished products, forestry products, apparel and finished industrial goods. Trade value with Germany was registered at $823.7 million in the last FY 2019-2020, $821.5 million in the FY 2018-2019, $373 million in the past mini-budget period (April-September 2018), $584 million in 2017-2018 FY, $342 million in 2016-2017 FY and $153 million in FY 2015-16, respectively.

Source: The Global New Light of Myanmar

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Myanmar ships over 2.2 mln tonnes of corn to international trade partners this FY

by TRADING

Myanmar has exported more than 2.2 million tonnes of corn to foreign countries in the current financial year 2020-2021, said U Min Khaing, the chair of the Myanmar Corn Industrial Association said. Of 2.2 million tonnes, about 1.6 million tonnes of corn were delivered to Thailand, whereas the remaining corns were conveyed to China, India and Viet Nam. This year, the corn fetched a good price of US$260-270 per tonne.

It was priced only $200-230 per tonne during the year-ago period. Thailand gives the green light to corn imports through Maesot under zero tariff (with Form-D), between 1 February and 31 August. Thailand has granted tax exemption on corn imports between February and August. However, Thailand imposed a maximum tax rate of 73 per cent on corn import to protect the rights of their growers if the corn is imported during the corn season of Thailand.

During the last FY2019-2020, the country exported 2.2 million tonnes of corns to the external market, with an estimated value of $360 million, the Ministry of Commerce’s data showed. Myanmar is the second-largest exporter of corn among regional countries. At present, corn is cultivated in Shan, Kachin, Kayah and Kayin states and Mandalay, Sagaing and Magway regions. The country yearly produces 2.5-3 million tonnes of corn.

Source: The Global New Light of Myanmar

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According to the export / import route within four months, there were 49.62% of exports by sea, nearly 31% by land, 3% by air and more than 76% of import by sea

by TRADING

According to the export / import route within four months, there were 49.62% of exports, nearly 31 percent by land, 3 percent by air and more than 76 percent of import by sea, according to the Ministry of Planning and Finance. It is known that 58% of exports in one year are by sea; Nearly 18% by land, almost 4% by air and almost 80% by import by sea based on the export/import route, according to the Ministry of Planning and Finance. In the export / import route, from October to September of the 2019-2020 fiscal year, exports were 18.46% by land; 58% by sea; 3.71% by air and 19.83% by gas pipeline, according to the Export / Import Statistics Team.

From October to September of the 2019-2020 fiscal year, the imports were 16.54% by land, 78.95 % by sea and 4.51% by air. As of January of the 2020-2021 fiscal year, China was the largest importer of Myanmar with over US $ 2024 million; Singapore is worth more than $ 990 million and Thailand more than $ 700 million, according to the Ministry of Commerce. In the four months to January of the 2020-2021 fiscal year, the largest imports to Myanmar were from China at $ 2,024.80 million; $ 990.90 million from Singapore; $ 700.46 million from Thailand; 368.98 million from Indonesia; $ 358.41 million from Malaysia; $ 229.32 million from India; $ 179.60 million from South Korea; $ 158.88 million from Japan; Vietnam imported $ 158.61 million and the United States $ 96.28 million, according to the Ministry of Commerce.

In the four months to January of the 2020-2021 fiscal year, China topped the list of Myanmar’s top 10 exporters with $ 2,275.54 million, followed by Thailand with $ 919.72 million, $ 341.70 million to Japan; $ 309.59 million to India; $ 263.23 million to the United States; $ 157.57 million to Spain; $ 142.91 million to Germany; $ 140.85 million to the UK; $ 116.361 million to South Korea; It exported $ 112.93 million to the Netherlands, according to the Ministry of Commerce. The main priority areas of the National Export Strategy 2020-2025 are agro-based food production; Textile and clothing sector; Industry and electronics; Fisheries sector; Forest products; Digital products and services; Logistics services; Quality management sector; Trade Information Services and innovation and entrepreneurship.

Source: Daily Eleven

CBM sells $144.8 mln in past eight months

by ECONOMY

The Central Bank of Myanmar (CBM) sold US$144.8 million at its auction rate in the past eight months from February to 15 September, according to the CBM. According to monthly sales of US dollars from February to 15 September 2021, the CBM sold $6.8 million in February, $12 million in April, $24 million in May, $12 million in June, $39 million in July and $28 million in August. But, there is no sale in March. In September, the CBM reportedly sold $15 million on 13 September while $8 million on 15 September at the foreign currency auction rate.

The CBM is carrying out an auction for foreign exchange to reduce the fluctuation of foreign exchange rates in a short-term period and fulfil the needs of foreign exchange reserves. Rules and directives have been set out for the CBM’s auctions. Following these rules and directives, the CBM is trading the foreign currency through three State-owned banks, 19 local private banks and 13 foreign banks, which are holding authorized dealer-AD licences. The local forex market’s data showed that the dollar exchange rate touched the maximum of K1,345 and the minimum of K1,327 in January 2021. The rate moved in the range of K1,335-1,465 in February. It reached the lowest of K1,420 and the highest of K1,550 in March. The rate fluctuated between K1,550 and K1,610 in April.

The rate fluctuated between K1,585 and K1,730 in May and it moved to the maximum of K1,595-1,620 in June. The rate stood at K1,625-1,645 in July. In 2020, the exchange rate moved in the range of K1,465-1,493 in January, K1,436-1,465 in February, K1,320-1,445 in March, K1,395-1,440 in April, K1,406-1,426 in May, K1,385-1,412 in June, K1,367-1,410 in July, K1,335-1,390 in August, K1,310-1,355 in September, K1,282-1,315 in October, K1,303-1,330 in November and K1,324-1,403 in December. In 2019, the rates are pegged at K1,508-1,517 in July, K1,510-1,526 in August, K1,527-1,565 in September, K1,528-1,537 in October, K1,510-1,524 in November and K1,485-1,513 in December. On 20 September 2018, the dollar exchange rate hit an all-time high of K1,650 in the local currency market.

Source: The Global New Light of Myanmar