Myawady border trade up by US$499 mln in ten months

THE border trade through Myawady between Myanmar and Thailand climbed up to US$1.52 billion between 1 October and 30 July in the current financial year 2020-2021, reflecting an increase of $499.49 million as against a-year ago period.
The trade through Myawady border stood at over $1 billion in the corresponding period of last FY 2019-2020.
Myawady-Mae Sot border trade is remained normal although Thailand ordered restrictions in Mae Sot, according to Myawady Chamber of Commerce.
Myawady border trade did not halt owing to the restriction orders by Thailand. Myanmar trucks cannot enter Mae Sot, but trucks from Thailand come and pick up the goods at Myawady post, the chamber stated.
We have experienced trade suspension via Myawady in October 2020. The halt in trading undoubtedly harms the traders and truck drivers from both sides. It is good that trade does not stop at the present time, said a trader from Myawady.
At the present time, Myawady border does not have trade barriers except transaction problem, as per Myanmar Corn Industrial Association.
Myanmar is currently shipping thousands of tonnes of corns to Thailand through Myawady border every day.
Myanmar is allowed for corn export between 1 February and 31 August with Form-D, under zero tariffs.
Myanmar corn exports were exempted from tax between February and August. Thailand imposed 73 per cent of tax on corn import to protect the rights of their growers if the corns are imported during the corn season of Thailand, in accordance with the notification of World Trade Organization regarding corn import of Thailand.
During last fiscal year, Myanmar has increasingly exported corns to Thailand through Myawady border gate. Myanmar’s corn exports to Thailand significantly soared to over 1.2 million tonnes through border gates between Myanmar and Thailand during October and May period in the FY 2019-2020, said an official of the Ministry of Commerce.
There are seven border posts between Myanmar and Thailand namely Tachilek, Myawady, Kawthoung, Htikhee, Myeik, Mawtaung and Meisei. Majority of the border trade with Thailand is conducted via Myawady.
Myanmar primarily exports corn, natural gas, fishery products, coal, tin concentrate (SN 71.58 per cent), coconut (fresh and dry), beans, and bamboo shoots to Thailand. It imports capital goods such as machinery, raw industrial goods such as cement and fertilizers, consumer goods such as cosmetics and food products from the neighbouring country.—KK/GNLM