Myanmar-India border trade exceeds $15 million within 41 days

Ginger. Photo: Supplied
Ginger. Photo: Supplied

The bilateral border trade between Myanmar and India totalled US$15.2 million in the current transitional fiscal year, an increase by $7.5 million compared with the same period last year, according to the Ministry of Commerce.
Between 1 April and 11 May this year, Myanmar exported some $13.2 million worth of commodities to India, whereas imports from Myanmar’s second largest neighbouring country were worth $1.9 million.
Border trade between the two countries is conducted mainly through the Tamu and Reed cross-border points. However, most bilateral imports and exports are delivered in ships.
The vast South Asian country’s imports from Myanmar include areca nuts, ginger, saffron, turmeric, bay leaves and other fruits and vegetables, besides human hair, fishery and forest products. It largely exports medicines, oil cakes, electronic products, motorbikes, cotton yarn, non-alloy steel and other construction materials.
Myanmar’s total border trade with China, India, Thailand and Bangladesh via the 16 land borders was valued at $875.7 million, including $573.5 million in exports and $302.1 million in imports.
According to the Directorate of Investment and Company Administration (DICA), India’s investment in Myanmar at the end of the 2017-2018 FY was $10.993 million through three investment projects.—Shwe Khine

Share this post

Comments

Hot News
Hot News