MYANMAR-S. KOREA TRADE REACHES OVER 450 MLN USD IN 7 MONTHS

YANGON, Myanmar — Trade between Myanmar and South Korea reached 458 million U.S. dollars in the first seven months of the present fiscal year 2017-18, the official Global New Light of Myanmar reported Monday.

The country’s exports to the East Asian country amounted to over 175 million U.S. dollars while its imports were 283 million U.S. dollars as of October from April.

The country usually imports cosmetic, food and electronic equipment, mobile devices and other goods from South Korea and exports agricultural products including cashew nuts, mangoes, rice, beans and pulses.

Bilateral trade between the two nations was 866 million U.S. dollars in last FY 2016-2017.

Investment in Myanmar from South Korea totaled 3.7 billion U.S. dollars as of October since late 1988, ranking as the sixth largest source of investment in the country, according to the statistics of the Directorate of Investment and Companies Administration (DICA).

Source: NAM NEWS NETWORK