Russia committed to monthly buy hundred tonnes of Myanmar shrimp

Russia has been undertaking to monthly purchase hundreds of tonnes of Myanmar’s shrimp, according to the Myanmar Fisheries Federation (MFF).
“Exportation of fishery product exports to Russia will happen ASAP. We are making efforts to export hundred tonnes of shrimp every month,” Major-General Zaw Min Tun, leader of SAC information team said.
Recently, Russia’s Roscongress Foundation arrived in Myanmar and met senior officials. The two countries signed a Memorandum of Understanding for the fishery exports to Russia.
Myanmar will primarily ship shrimp produced by Taninthayi Region. The effective date of the MoU is under negotiation by the two parties, MFF said.
Additionally, Russia has provided technical assistance regarding deep sea fishing. The cooperation in the fishery sector will begin soon.
Myanmar and Russia have signed a Government to Government pact for technical assistance for the value-added fish and shrimp production and fishery product exports to Russia.
Myanmar bagged nearly US$440 million from fishery product exports as of 11 November in the 2022-2023 Financial Year, which was over $8 million lower than that of the corresponding period last year. Myanmar’s fishery exports generated an income of $439.942 million between 1 April and 11 November of the 2022-2023 FY, which plummeted from $448.386 million in the similar period of the 2021-2022 mini-budget period. The figures indicated a decrease of $8.444 million from the year-ago period, the Ministry of Commerce’s statistics showed
Myanmar shipped the fishery products to external markets by sea and cross-border posts. Myanmar’s fishery products are exported to Japan and European countries through maritime trade, while fish, shrimp, crabs and other fishery products are delivered to the neighbouring countries China, Thailand, India and Bangladesh via the cross-border channels.
Myanmar exports raw aquaculture products from farms and caught by onshore and offshore fishing businesses to the external markets. Additionally, aquaculture products are also exported after being processed at the cold storage facilities.—TWA/ GNLM