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Sino-Myanmar bilateral trade exceeds US$4.85 bln in five months

The value of Myanmar’s trade with China through maritime and sea trade channels totalled over US$4.85 billion in October and February of the 2020- 2021 financial year, including $2.54 billion worth of exports and $2.3 billion for import, according to data released by the Ministry of Commerce. Myanmar primarily exports agro products to China through the border gates. However, the trade of agricultural products is frequently halted on account of China clamping down on illegal trade at the border checkpoint.

Furthermore, China has been stepping up border control measures to contain the spread of the COVID-19, hindering the border trade at present. In a bid to lower trade barriers and offer relief to Myanmar traders through the border trade channel, the Ministry of Commerce, the related departments and the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry have been negotiating with China counterparts. The two countries are making efforts to set up more border economic cooperation zones and promote border trade.

The value of bilateral trade with China stood at $12 billion in the 2019- 2020FY, $11.36 billion in the 2018-2019FY, $6 billion in the past mini-budget period, $11.78 billion in the 2017-2018 budget year and $10.8 billion in the 2016- 2017FY respectively. Rice, various types of peas, sesame seeds, corn, fruits and vegetables, dried tea leaves, fishery products, rubber, minerals and animal products are exported to China, whereas machinery, plastic raw materials, consumer products and electronic tools flow into Myanmar.

Source: The Global New Light of Myanmar

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