Myawady border trade value increases to double in current mini-budget period

LOCAL NEWS

THE value of border trade through Myawady between Myanmar and Thailand doubled to US$881.24 million between 1 October and 4 February in the current mini-budget period 2021-2022, indicating a sharp increase of $476.507 million as against a year ago period, according to the statistics released by the Myanmar Customs Department.
The trade through the Myawady border stood at over $404.7 million in the corresponding period of the last FY2020-2021.
Myawady-Mae Sot border trade remains normal amid the COVID-19 restrictions, according to the Myawady Chamber of Commerce.
Myanmar ships tonnes of corn to Thailand through the Myawady border. Thailand gives green light to corn imports through Mae Sot under zero tariff (with Form-D), between 1 February and 31 August. Myanmar exported approximately 1.6 million tonnes of corn were delivered to Thailand in the FY2020-2021.
Next, Thailand is suppressing Intellectual Property infringements at cross-border points to strengthen the trust with the trading partners and create a better investment climate.
There are seven border posts between Myanmar and Thailand-Tachilek, Myawady, Kawthoung, Hteekhee, Myeik, Mawtaung and Maese. The majority of the border trade with Thailand is conducted via the Myawady border post.
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

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