Sino-Myanmar border trade up $332.6 mln as of 22 Nov

Sino-Myanmar border trade registered an increase of US$332.6 million between 1 October and 22 November in the current fiscal year, according to the Ministry of Commerce.
Data from the Ministry of Commerce shows the value of the Sino-Myanmar border trade touched $926 million in the current fiscal from $593.47 million recorded in the year-ago period.
This FY, border trade values totaled $765.737 million at Muse, $11.28 million at Lweje, $96 million at Chinshwehaw, $251.4 million at Kanpiketee, and $1.6 million at Kengtung.
The Ministry of Commerce, the concerned government departments, and the Union of Myanmar Federation of Chambers of Commerce and Industry have been negotiating with their Chinese counterparts to lower trade barriers and offer relief to Myanmar traders using the border trade channel.
The two countries are making efforts to set up more border economic cooperation zones and promote border trade.
At present, border trade between Myanmar and China has returned to normal. Fighting in northern Shan State had brought about a temporary closure of trade. Additionally, the export of agricultural products has been halted often on account of China clamping down on illegal goods. Myanmar merchants are facing difficulties in exporting goods to China through the legitimate channel as they find the tax levied by China too high. Therefore, rice confiscation and price manipulation occur often at the border.
Rice is currently being exported to China through a government-to-government (G2G) agreement and a barter system, in exchange for Chinese goods.
Myanmar exports rice, sugar, pulses, sesame seeds, corn, dried tea leaves, fishery products, minerals, and animal products to China, while it imports agricultural machinery, electrical appliances, iron and steel-related materials, raw industrial goods, and consumer goods from the neighboring country. — Htet Myat  (Translated by EMM)

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