India-Myanmar border trade rises by $65.58 mln this FY

The value of border trade between India and Myanmar jumped to US$133.599 million between 1 October and 5 March period of the current financial year amid the closure of border gates by India in the wake of the coronavirus pandemic.

The figures reflected an increase of $65.58 million as against a year-ago period.

India closed the border crossings in Mizoram and Manipur on account of COVID-19, and traders suffered the outbreak’s negative impact.

The cross-border trade between Myanmar and India has stopped, and the reopening of the border checkpoints have been put off for now.

Myanmar conducts border trade with neighbouring India through Tamu, Reed, and Htantalan border posts.

Between 1 October and 5 March in the current budget year, trade values have registered at over $27.95 million at Tamu and $105.64 million at Reed. There was no trade recorded at the Htantalan post.

Myanmar exports mung beans, pigeon peas, green grams, areca nuts, ginger, saffron, turmeric, bay leaves, fishery products, fruits, and vegetables to India. At the same time, it imports pharmaceuticals, oil cakes, electronic appliances, motorbikes, steel and other construction machines and building materials from the neighbouring country. — MM/GNLM

Share this post
Hot News
Hot News