Starting from fiscal year 2015-2016 to the first week of March in the current year, over 2.3 million tonnes of sugar were reportedly re-exported to foreign partners, earning US$1.29 billion.
Myanmar is making efforts to enhance re-export trade and grant permits for more items, negotiating with the departments concerned. Sugar, betel nut, fuel oil, clothes, garlic, sesame seeds, dried pepper, peanuts, cotton, electrical appliances, beverages, food, edible oil, and tyres are re-exported.
The country earns more revenue from re-export trade with the increase in trade volume. In addition, all the stakeholders in this industry are financially doing well, it is learnt. Sugar is imported mostly from sugar producing countries such as Thailand and India, and Myanmar re-exported them to China because Myanmar sugar millers are able to produce sugar mainly for the local market as Myanmar sugar does not look appealing and does not meet export criteria for the lack of advanced refining machinery.
The Commerce Ministry will also verify and approve the proposals concerning the commodities which can be re-exported, it is learnt.