YANGON, Myanmar Feb 13 (NNN-Xinhua) — Myanmar will seek to penetrate international market through exhibition of its goods at the upcoming 123rd Spring Canton Fair of China, the official Global New Light of Myanmar quoted the Ministry of Commerce as saying Tuesday.
“Participating in the trade fair can not only prevent illegal trading but can promote the trading sector,” said U Yan Naing Tun, director-general of the Trading Department of the Ministry, adding that traders from both countries can rapidly export goods, while developing trading and market which can create job opportunities for local people.
Traders from Myanmar have been invited to showcase their products at the Spring Canton Fair which is held in the southern city of Guangzhou annually in April-May.
Myanmar Trade Promotion Organization is encouraging local entrepreneurs to attend the fair as exhibitors or visitors.
Myanmar mainly exports pulses, corns, sesame, rice, rubber, fisheries, sugar and sugarcane to China, while importing from the neighbor fertilizer, construction materials and consumers goods.
According to statistics of the Ministry of Commerce, bilateral trade between Myanmar and China was 10.7 billion U.S. dollars in the last fiscal year 2016-17.
In first half of the present fiscal year 2017-18 ending March, the bilateral trade reached over 5.5 billion U.S. dollars, of which Myanmar’s export to China took 2.46 billion U.S. dollars while its imports shared 3 billion U.S. dollars.
Meanwhile, total border trade was valued at 2.34 billion dollars in this fiscal year as of the end of last August.
The country mainly trades with China via Muse, Chinshwehaw, Lweje, Kanpikete, and Kengtung among other border points.
Source: NAM News Network