International Trade
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The Ministry of Commerce will support banks in the provision of loans for planting Myanmar corn, demand for which is expected to rise in the coming years. The agreement was made between the ministry and the newly formed Myanmar Corn Industrial Association on June 26.
Description:
"“As we expect demand to be very high, the Ministry of Commerce accepted our request for it to provide government loans or connect us to the banks so that we can obtain the funding we need to expand the plantations,” said U Min Khang chair of the association.
There are about 1.9 million acres of corn plantations across the Ayeyarwady Region, Nay Pyi Taw, Shan State, Kayah State and Kayin State, yielding more than 3 million tonnes a year, according to last year’s data.
Domestic consumption is less than half of what is produced, with the other half of the crop exported mainly to Thailand. Myanmar is currently also the second largest exporter of corn in Asean.
Since the start of the 2019-20 fiscal year, demand for Myanmar corn has risen, particularly from Thailand, where demand for corn as industrial and animal feed is increasing.
According to the Ministry of Commerce, the country has already exported around 1.8 million tonnes of corn this year, which is about a million tonnes more compared to the same period last year. More than 60 percent was sold to Thailand..."
Source/publisher:
"Myanmar Times" (Myanmar)
Date of entry/update:
2020-06-29
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Revenue from Myanmar's fruit exports have reached US$370 million in the current fiscal year, which is on par with revenues generated over the same period in the previous fiscal year despite COVID-19, according to the Myanmar Fruit, Flower and Vegetable Producer and Exporter Association.
Description:
"This was due to higher demand from China for good quality Myanmar bananas produced from local tissue culture, which offset a decline in exports of other fruits like watermelons and cucumbers.
In fact, if it wasn't for COVID-19, Myanmar could have enjoyed a net increase in fruit export revenues this year if proper storage facilities had been available at the Myanmar-China border to store fruits while traders waited to clear longer procedures and other delays due to the pandemic. "Our fruit export income would have increased by a lot more if we had a better system to manage wastage at the border. Currently, about 80 percent of locally produced fruit has gone to waste as a result of disruptions from COVID-19," said Daw Sandar Myo, secretary of the association.
Fruits are mainly exported to China at the border. Before COVID-19, watermelons and cucumbers were the main fruit exports and revenue had been on the rise each year due to increasing demand.
This year, the decline in exports of watermelons and cucumbers was offset by a surge in demand for bananas at the start of the year, said U Khin Maung Lwin, assistant secretary of the Ministry of Commerce..."
Source/publisher:
"Myanmar Times" (Myanmar)
Date of entry/update:
2020-06-24
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Type:
Individual Documents
Category:
Burma/Myanmar's relationship with the Global Economy, International Trade, COVID-19 (Coronavirus)
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Description:
"Myanmar's trade with foreign countries through border gates reached over 7.8 billion U.S. dollars as of June 12 in present fiscal year (FY) 2019-2020 which started in October, according to figures released by the Commerce Ministry on Wednesday.
During the period, the country's export via border gates amounted to 5.42 billion U.S. dollars while its import shared 2.44 billion U.S. dollars.
This fiscal year's border trade increased by over 236 million U.S. dollars, compared to the same period of last fiscal year 2018-2019 when it amounted to 7.63 billion U.S. dollars, the ministry's figures said.
Muse topped the list of border checkpoints with the most trade value of 3.44 billion U.S. dollars, followed by Heekhee with 1.43 billion U.S. dollars.
The country conducts border trade with neighboring China through Muse, Lweje, Kanpikete, Chinashwehaw and kengtung with Thailand via Tachilek, Myawady, Kawthoung, Myeik, Hteekhee, Mawtuang and Maese gates, with Bangladesh via Sittwe and Maungtaw and with India through Tamu and Reed border gates, respectively..."
Source/publisher:
"Xinhua" (China)
Date of entry/update:
2020-06-24
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Description:
"Although trade with Indian neighbour is down 40 percent, Myanmar’s commercial exchanges with its ASEAN partners remain healthy, according to Thura Swiss June 5.
According to the latest reports from the Ministry of Commerce, the aggregated sea and land trade between Myanmar and the rest of the block, for the first half of the 2019-20 fiscal year, amounted to US$6.9 billion.
Myanmar still imports twice as much as it exports with its regional partners (US$2.14 billion exports value versus US$4.75 billion imports). Taken as a whole the ASEAN block is the country’s 2nd trade partner – after China. In ASEAN, Thailand stands out as the number one trading partner, followed by Singapore and Malaysia coming third..."
Source/publisher:
"Mizzima" (Myanmar)
Date of entry/update:
2020-06-06
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"The Myanmar government has reserved about 2,200 tonnes of rice during this month, according to the press statement of the Myanmar Rice Federation (MRF).
According to a report by the Global New Light of Myanmar on May 30, the Ministry of Commerce, Myanmar Inspection and Testing Service (MITS), the authorized organization of the State and MRF have implemented the rice reserve scheme since 30 April.
The state purchased about 2,200 tonnes of rice from 80 companies as of 27 May, in line with the set rules and regulations. As part of these regulations, exporters have to sell 10 per cent of total export volume (25% broken, well-milled and sorted rice).
As the report notes, the reserved rice must be sent to the state’s warehouse.
It is the job of the MITS, the authorized organization of the State, to inspect and verify the quality and quantity of the rice..."
Source/publisher:
"Mizzima" (Myanmar)
Date of entry/update:
2020-05-31
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Individual Documents
Category:
Rice, International Trade
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Description:
"About 1 million people may lose their jobs in Myanmar’s fisheries industry, with almost all exports ceasing since February as the spread of Covid-19 prompted major buyers, led by China and the U.S., to halt orders.
Processing plants wouldn’t have been able to deliver anyway, as factory closures were part of the government’s measures to stall the pandemic. Before the outbreak, the Myanmar Fisheries Federation forecast record exports of $1 billion this year, up about 40% from 2019. That’s been slashed to $350 million.
The fisheries sector employs about 3.5 million people in Myanmar, “It is a time of zero exports without any new orders from buyer countries,” Hnin Oo, senior vice president of the Myanmar Fisheries Federation, said in a telephone interview Friday. Myanmar fishery exports largely depend on China, the U.S., Japan and European countries, he said.roughly 6% of the Southeast Asian nation’s workforce. In some coastal regions, one in three workers earns a living from seafood and marine products, according to a World Bank report in June 2019..."
Source/publisher:
"Bloomberg News" (New York)
Date of entry/update:
2020-05-30
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Description:
"Myanmar's trade deficit recorded over 1.2 billion U.S. dollars in first seven months of present fiscal year (FY) 2019-2020, up from over 651 million U.S. dollars in the corresponding period of last FY, Xinhua reported.
From Oct. 1 to April 24 of this FY, the country earned over 10.4 billion U.S. dollars while its import reached over 11.6 billion U.S. dollars.
In the same period of last FY 2018-2019, Myanmar's foreign trade totalled over 19.35 billion U.S. dollars with export value of over 9.34 billion U.S. dollars and over 10 billion U.S. dollars' import..."
Source/publisher:
"Mizzima" (Myanmar)
Date of entry/update:
2020-05-06
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Description:
"Myanmar's trade deficit recorded over 1.2 billion U.S. dollars in first seven months of present fiscal year (FY) 2019-2020, up from over 651 million U.S. dollars in the corresponding period of last FY, said figures by the Commerce Ministry on Tuesday.
From Oct. 1 to April 24 of this FY, the country earned over 10.4 billion U.S. dollars while its import reached over 11.6 billion U.S. dollars.
In the same period of last FY 2018-2019, Myanmar's foreign trade totaled over 19.35 billion U.S. dollars with export value of over 9.34 billion U.S. dollars and over 10 billion U.S. dollars' import.
About 80 percent of the country's trade with foreign countries is done through sea route and its border trade is conducted with neighbouring China, Thailand, Bangladesh and India.
Myanmar's agricultural products, animal products, marine products minerals, forest products, manufacturing goods and others are exported while the country imports capital goods, intermediate goods and consumer goods.
The trade authorities have been making efforts to boost the country's exports as well as to reduce the imported luxury commodities to decrease the trade deficit..."
Source/publisher:
"Xinhua" (China)
Date of entry/update:
2020-05-05
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Description:
"Myanmar has exported over 1.19 million tons of rice and broken rice in first five months of present fiscal year (FY) 2019-2020, according to the latest figures released by Myanmar Rice Federation on Saturday.
From Oct.1, 2019 to Feb. 7 of this FY, the country earned over 343.6 million U.S. dollars from the export of 838,672 tons of rice and 356,370 tons of broken rice.
During the period, 86.32 percent of rice and broken rice export was done through sea route.
Meanwhile, demand for Myanmar's rice and broken rice from neighbouring countries including China accounted for over 27 percent of the export.
Myanmar has set a target to export 2.5 million tons of rice in present fiscal year which will end on Sept. 30, 2020.
In previous FY 2018-2019, the country exported over 2.35 million tons of rice and broken rice with over 709.6 million U.S. dollars' export revenue..."
Source/publisher:
"Xinhua" (China)
Date of entry/update:
2020-03-01
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Description:
" Myanmar's trade through sea routes registered over US$10.4bil in the first five months of the present fiscal year (FY) 2019-2020, which started in October, according to figures released by the Commerce Ministry on Saturday (Feb 22).
The country fetched over US$4.14bil from maritime export while its import shared over US$6.33bil as of Feb 14 this FY.
This fiscal year's sea trade saw a significant increase by over US$1.58bil, compared to the same period of the last fiscal year 2018-2019, the ministry's figures showed.
Approximately 80% of Myanmar's foreign trade is done through sea-borne trade and its border trade is conducted with neighbouring countries -- China, Thailand, India and Bangladesh, respectively.
From Oc. 1, 2019 to Feb. 14 of this FY, the country's foreign trade totalled over US$14.5bil with over US$6.76bil in export and US7.77bil in import..."
Source/publisher:
"The Star Online" (Selangor)
Date of entry/update:
2020-02-23
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Type:
Individual Documents
Category:
International Trade, Burma/Myanmar's relationship with the Global Economy, Burma/Myanmar's Foreign relations, general
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Description:
"Myanmar exported about 12,000 tons of rice to Asia, about 6,000 tons of rice to European Union (EU) and over 14,000 tons of rice to Africa between February 2 and 8, according to the Ministry of Commerce.
It exported over 32,000 tons of rice worth US$10.021 million through maritime trade. It is less than over 1,500 tons of rice compared with last week's export.
Myanmar exported about 1,200 tons of broken rice to Asia, over 9,100 tons of broken rice to the EU, about 3,200 tons of broken rice to Africa, 250 tons of broken rice to the United Arab Emirates and over 300 tons of Gibraltar in that period. It is more than 2,800 tons of broken rice compared with last week's export.
Myanmar exported about 3,000 tons of rice worth US$0.821 million through border trade centers in Myanmar-China border from February 1 to 7. About 2,300 tons of rice is exported through Muse 105-mile trade center, about 270 tons of rice through Chinshwehaw border trade center and about 370 tons of rice through Lweje border trade center. It is more than 400 tons of rice compared with last week's export...."
Source/publisher:
Eleven Media Group (Myanmar)
Date of entry/update:
2020-02-22
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Type:
Individual Documents
Category:
Burma/Myanmar's relationship with the Global Economy, International Trade, Burma/Myanmar's Foreign relations, general
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Description:
"Myanmar earned over 907 million U.S. dollars from mineral export in the first four months of present fiscal year (FY) 2019-2020 which started in October, according to figures of the Ministry of Commerce on Tuesday.
This figure increased by 579 million U.S. dollars, compared to the same period of last FY 2018-2019 when it fetched over 328 million U.S. dollars.
During the period, the mineral sector ranked the third place with most export value, following the manufacturing and agriculture sectors among other export.
Meanwhile, the country's export value totaled over 6.1 billion U.S. dollars from Oct. 1, 2019 to Jan. 31, the ministry's figures said.
Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products, manufacturing goods and others to foreign trade partner countries..."
Source/publisher:
"Xinhua" (China)
Date of entry/update:
2020-02-13
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Type:
Individual Documents
Category:
Burma/Myanmar's relationship with the Global Economy, International Trade, Burma/Myanmar's Foreign relations, general
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Description:
"Myanmar will take measures to ensure that overseas demand for locally made goods remains elevated even as cheaper imports from the region are expected to rise now that the country will participate further in the ASEAN Free Trade Area (AFTA). This should also keep the country’s trade deficit, which was down to US$627 million in fiscal 2019-20 from US$5.2 billion in fiscal 2016-17, stable. Under AFTA, Myanmar is expected to substantially lower the import duties for a list of goods to as little as zero and no more than 5 percent.
“Custom duties will be nearly zero due to AFTA and ASEAN countries are already taking advantage of the opportunity to export more goods to Myanmar. We have in place the Import Protection Law to ensure local manufacturers are not threatened,” said U Aung Htoo, deputy commerce minister. The Import Protection Law gives Myanmar the right to raise duties for a period of three years on imported goods that severely affect or threaten local manufacturer. The law also covers trade under AFTA, the Myanmar Times understands.
Some traders have voiced their approval over the changing trade environment. Daw Yin Yin Moe, CEO of Hla Yin Moe, a textile and garment company, said that over the past five years her company was able to import industrial apparatus and machineries..."
Source/publisher:
"Myanmar Times" (Myanmar)
Date of entry/update:
2020-02-13
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Type:
Individual Documents
Category:
International Trade, Burma's economic relations with ASEAN, Burma/Myanmar's relationship with the Global Economy, Burma/Myanmar's Foreign relations, general
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Description:
"Myanmar earned US$300.366 million from 1.047 million tons of rice and broken rice exports from October 1 to January 17 in this fiscal year, according to Myanmar Rice Federation (MRF).
It earned about US$220 million from over seven million tons of rice export to 56 countries in that period and over US$80 million from over 300,000 tons of broken rice export in the same period, it said.
It earned over US$39 million from over 150,000 tons of rice and broken rice exports through border routes in that period. It is over 14 per cent of total rice and broken rice exports. It earned over US$260 million from over 890,000 tons of rice and broken rice exports through maritime routes in that period. They are over 14 and 85 per cents of total rice and broken rice exports respectively.
Myanmar exported 2.355 million tons of rice and broken rice and earned US$709.693 million in 2018-19 FY, announced the MRF.
Myanmar is using border trade routes and maritime trade routes to export rice and broken rice exports..."
Source/publisher:
Eleven Media Group (Myanmar)
Date of entry/update:
2020-02-07
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Type:
Individual Documents
Category:
International Trade, Burma/Myanmar's relationship with the Global Economy, Burma/Myanmar's Foreign relations, general
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Sub-title:
Local liquor manufacturers are struggling to stay profitable as competition from illegal importers continues eat into their margins, said U Soe Lwin, chair of The Myanmar Liquor Association (MLA). Legally imported liquors and spirits like whiskeys, rum and gin are taxed upon entry and this is passed on to consumers.
Description:
"“The total tax payable for our industry has increased to K200 billion for the 2019-20 year of assessment. The amount of taxes paid by this industry is rising by 25 percent to 30pc every year,” said U Htay Lwin, general secretary of the MLA. Illegal distributors, however, escape taxes and are able to sell liquor at lower prices in the black market.
Imports of spirits are tightly restricted in Myanmar and it wasn’t until late 2015 that permitted the import of wines was permitted. However, only hotels and duty-free outlets have been allowed to import spirits and beer thus far. This has led to the proliferation of illegal imports, mostly at the border. The government is in the process of enacting laws intended to relax Myanmar’s existing ban on alcohol imports. Work on a draft legislation has moved to the attorney general for approval, after which it would be presented to the cabinet, according to the commerce ministry.
U Win Thaw, a secretary of the MLA, said the main problem with the impending relaxation of the new import policy is that it does not address the black market situation where alcohol is smuggled through our borders without being taxed.
He added that the legislation should not only formalise, but level the playing field between local producers and foreign liquor importers.
Locally produced liquor brands include High Class, Glan Master and Grand Royal whiskies as well as Mandalay Rum..."
Source/publisher:
"Myanmar Times" (Myanmar)
Date of entry/update:
2020-02-05
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Type:
Individual Documents
Category:
International Trade, Burma/Myanmar's relationship with the Global Economy, Food Security - Specialised organisations and mechanisms, Burma/Myanmar's Foreign relations, general
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Summary:
"Representatives of the British Chamber of Myanmar, European Chamber of Myanmar, Delegation of German Industry and Commerce in Myanmar, EuroCham Myanmar Automotive Advocacy Group and AAM held a joint...
Description:
"Representatives of the British Chamber of Myanmar, European Chamber of Myanmar, Delegation of German Industry and Commerce in Myanmar, EuroCham Myanmar Automotive Advocacy Group and AAM held a joint press conference on the issue yesterday in Yangon. On January 2, the Ministry of Commerce announced that senior government officials, such as directors general, deputy directors general, and those with a minimum of 25 years of excellent service, would be given import permits for vehicles as rewards for their work.
The vehicles approved for import would be determined by the ministry on a yearly basis and would be allowed into the country directly without going through a showroom or car dealership. “If the government goes ahead with this plan, it will affect the whole automotive industry greatly. The image of the industry in Myanmar, which is heavily dependent on foreign investment, will not be good,” said Mr Peter Beynon, chair of the British Chamber of Commerce Myanmar.
Following the announcement of the plan, the AAM wrote to the Ministry of Commerce asking that the plan be reviewed or shelved. The AAM said the plan would raise feelings on unfairness among people who have to pay taxes to the government for the cars they buy through ordinary channels and also cause price instability in the local car market.
The AAM further stated that the plan would damage companies assembling vehicles for sale in the local market, and car sales centres owned by local companies..."
Source/publisher:
"Myanmar Times" (Myanmar)
Date of entry/update:
2020-02-01
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Type:
Individual Documents
Category:
Burma/Myanmar's relationship with the Global Economy, International Trade, Burma/Myanmar's Foreign relations, general
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Description:
"Myanmar earned about US$310 million from fishery export from October 1 to January 17 in this fiscal year and it is more US$45 million compared with the amount of fishery export in the same period in the last fiscal year, according to figures from the Ministry of Commerce.
At present, Myanmar is needed tenfold or more to reach the amount of fishery export made by neighbouring countries. The exporters need to advance their breeding techniques instead of fishing naturally, according to the fisheries department.
Myanmar will cooperate with technicians from Indonesia, Taiwan and China to build fish food factories, cold-storage factories and modernized factories to earn US$3 billion from fishery sector, said Htay Myint, Chairman of Myanmar Fisheries Federation.
It can create 100,000 job opportunities and Ministry of Planning and Finance will give loans to buy land to build the factories and fish and prawns..."
Source/publisher:
"Eleven Media Group" (Myanmar)
Date of entry/update:
2020-02-01
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"10 new air-conditioned train carriages bought from South Korea will be up and running on the Mandalay-Myinkyina rail road in early March, according to the Ministry of Transport and Communications.
The new air-conditioned trains will take about 17 hours to travel the Mandalay-Myitkyina route, an hour less than other trains.
Myanmar Railways (MR) signed a contract agreement with the Dawonsys Company to buy 100 new modernised train carriages under the Korean loans on Dec 5,2018.
The Ministry will use a US$45mil loan from Economic Development Cooperation Fund (EDCF) of the EXIM Bank to buy the train carriages. A vessel carrying the 10 new train carriages out of 100 and spare parts, bought under a loan from South Korea, arrived at the Thilawa Jetty, Yangon, on Jan 7.
Works to upgrade the Yangon-Mandalay railroad is a collaboration among Myanmar, South Korea and Japan.
Myanmar and Japan will also cooperate on the Hanthawaddy airport project, the ministry announced..."
Source/publisher:
"The Star Online" (Selangor)
Date of entry/update:
2020-01-17
[field_licence]
Type:
Individual Documents
Category:
Burma's economic relations with South Korea, International Trade, South Korea-Burma relations
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Sub-title:
As Xi Jinping visits Myanmar, fighting in ethnic borderlands threatens China’s ambitious investment plans.
Description:
"As the leader of China, Xi Jinping, touches down in Myanmar on Friday, his two-day visit is designed to celebrate Beijing’s expanding presence in the region, both as an economic and political role model.
But relations between the two neighbors have never been so simple.
China is by far the largest foreign investor in Myanmar, which boasts a trove of natural resources. And China also provides a road map for how one of Asia’s poorest nations might lift its citizens out of hand-to-mouth existences.
“China’s remarkable poverty reduction has led it to become a modern developed nation,” said U Thein Myint Wai, a Myanmar economist and former commerce ministry official. “There will be a positive impact of working with such a nation.”
Beijing also reliably defends its smaller neighbor in the international arena, where the Myanmar military has been accused of a genocidal campaign against Rohingya Muslims in the country’s far west..."
Source/publisher:
"The New York Times" (USA)
Date of entry/update:
2020-01-17
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Description:
"Myanmar exported about 30,000 tons of rice worth US$8.8 million through maritime trade from December 22 to 27, according to figures from Ministry of Commerce.
About 8,000 tons of rice is exported to Asian countries and about 3,000 tons of rice is exported to EU countries. About 18,000 tons of rice is exported to African countries and 25 tons of rice is exported to a new market, Puerto Rico.
It exported about US$2 million worth of over 6,600 tons of rice to China and Thailand via border trade centers, according to the ministry.
Myanmar exported over 3,500 tons of rice from Muse 105-mile border trade center, about 600 tons of rice from Chinshwehaw border trade center, about 1,400 tons of rice from Lweje border trade center, about 80 tons of rice from Kanpikete border trade center and more than 1,100 tons of rice from Techilek border trade center..."
Source/publisher:
Eleven Media Group (Myanmar)
Date of entry/update:
2020-01-14
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Type:
Individual Documents
Category:
International Trade, Burma/Myanmar's relationship with the Global Economy, Burma/Myanmar's Foreign relations, general
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Description:
"The U.S. government will take steps next week to limit the export of artificial intelligence (AI) software. The decision by the Trump administration comes at a time when powerful rival nations, such as China, are becoming increasingly dominant in the field. The move is meant to keep certain sensitive technologies from falling into the hands of those nations.
The new rule goes into effect on January 6, 2020, and it will be aimed at certain companies that export geospatial imagery software from the United States. Those companies will be required to apply for a license to export it. The only exception is that a license will not be required to export to Canada.
The new measure was the first of its kind to be finalized by the Commerce Department under a mandate from a 2018 law passed by Congress. That law updated arms controls to include emerging technology.
The new rules will likely have an effect on a growing part of the tech industry. These algorithms are currently being used in order to analyze satellite images of crops, trade patterns and other changes within the economy and environment.
Chinese companies are responsible for having exported artificial intelligence surveillance technology to over 60 countries. Some of those countries have dismal human rights records and include Iran, Myanmar, Venezuela, and Zimbabwe..."
Source/publisher:
"Unite.ai"
Date of entry/update:
2020-01-13
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Type:
Individual Documents
Category:
Burma/Myanmar's relationship with the Global Economy, International Trade, China-Burma-US relations
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Sub-title:
Far from the front lines of the US-China trade war, the resource-rich Kachin is the scene of a familiar struggle for influence between the two superpowers...China has invested heavily, but for some locals development has come at a cost
Description:
"While the US-China trade war plays to the audience on the global stage, behind the scenes the two superpowers are engaged in a unique tug of war for influence in one of the world’s more remote corners.
Myitkyina, the capital of Myanmar’s Kachin State about 1,200km north of Yangon, rarely features on tourist bucket lists. Despite its verdant scenery and dynamic culture and traditions, it suffers from high rates of poverty and drug addiction, and has been the scene of a conflict between the Kachin Independence Army and the Myanmar military which has displaced an estimated 100,000 people since a 17-year ceasefire collapsed in 2011. Yet recently not one, but two high-profile visitors arrived in the space of just days.
US Ambassador to Myanmar Scot Marciel and a delegation from the US Embassy held a Myitkyina Road Show in November that included a jobs and opportunities fair, a workshop with the agricultural sector, and a meeting with veterans who fought alongside US troops in World War II. Marciel said the embassy wanted to work with the Kachin people “in support of freedom, democracy, human rights and economic progress”, and that the US was “committed to implementing development programmes in an open, transparent manner … to listen and learn”..."
Source/publisher:
"South China Morning Post" (Hong Kong)
Date of entry/update:
2020-01-12
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Type:
Individual Documents
Category:
China-Burma-US relations, “One Belt, One Road” initiative, International Trade, Burma/Myanmar's relationship with the Global Economy, Kachin State
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Description:
"During three months of the current fiscal year, Myanmar earned over 250 million US dollars from the exports of around 900,000 tons of rice and broken rice, according to Myanmar Rice Federation.
Till December 27 of 2019-20 FY, Myanmar exported 894,889.703 tons of rice and broken rice worth 256.452 million US dollars.
During this period, Myanmar exported over 600,000 tons of rice worth over 180 million US dollars to 53 countries and around 290,000 tons of broken rice worth over 75 million US dollars, to 45 countries.
Myanmar exports rice to the EU and Africa via sea route and China via Muse border trade. During three months, Myanmar earned over 34 million US dollars from exports of over 130,000 tons of rice and broken rice via border trade. Border trade accounted for 15 per cent of the total rice export.
Myanmar earned over 220 million US dollars from exports of over 760,000 tons of rice and broken rice via sea route. It made up over 85 per cent of the total rice export.
In 2018-19 FY, Myanmar earned 709.693 million US dollars from exports of 2.355 tons of rice and broken rice, according to the MRF.
In 2017-18 FY, Myanmar’s rice exports reached a record high within over 50 years, with the exports of nearly 3.6 million tons of rice and broken rice..."
Source/publisher:
Eleven Media Group (Myanmar)
Date of entry/update:
2020-01-12
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Description:
" Myanmar earned over 2.49 billion U.S. dollars from export of finished industrial goods in the first three months of present fiscal year (FY) 2019-2020 which started in October, according to figures from the Commerce Ministry on Thursday.
As of Dec. 27 of this FY, the export of finished industrial goods or manufacturing goods export topped the list among other export products.
This FY's figures increased by over 718.5 million U.S. dollars, compared to the same period of last FY 2018-2019 when it fetched over 1.77 billion U.S. dollars.
Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products, manufacturing goods and others to foreign trade partner countries.
During the period, the country's export totaled over 4.56 billion U.S. dollars while its import shared over 4.57 billion U.S. dollars, the ministry's figures said..."
Source/publisher:
"Xinhua" (China)
Date of entry/update:
2020-01-10
[field_licence]
Type:
Individual Documents
Category:
Burma/Myanmar's relationship with the Global Economy, International Trade, Burma/Myanmar's Foreign relations, general
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Description:
"Rice exports may fall below 8 million tonnes for 2019, with this year's prospects still uncertain because of a slew of risk factors such as the continued strong baht, natural disasters and emerging new rice exporters like Myanmar and China.
Charoen Laothamatas, president of the Thai Rice Exporters Association, said shipments definitely will stand below 9 million tonnes, as projected by the association for 2019, but could struggle to hit 8 million tonnes.
In the first 11 months of 2019, Thailand shipped 7.11 million tonnes, a dip of 30.4% from the same period a year earlier, fetching US$2.90 billion, down 24.3%. The fall was attributed to the strong baht, hurting the country's export competitiveness. Another factor is the lack of Thai rice variety development over a period of 30 years to cope with changing market demand and consumer behaviour. Thailand has shipped the same rice varieties for 30 years, Mr Charoen said..."
Source/publisher:
"Bangkok Post" (Thailand)
Date of entry/update:
2020-01-06
[field_licence]
Type:
Individual Documents
Category:
Rice, International Trade
Language:
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Description:
" The 2019 Lancang-Mekong Cooperation (LMC) Exposition opened Thursday in Kunming, capital of southwest China's Yunnan Province, aiming at boosting sub-regional trade and investment.
More than 2,000 merchants from home and abroad are expected to attend the five-day event, which has set up 1,800 booths in five exhibition halls, covering investment and trade, culture and tourism, featured commodities of Lancang-Mekong countries and other areas.
The Lancang-Mekong Cooperation Dianchi Forum was held on the same day, focusing on cross-border economic cooperation and the construction of a pilot free trade zone.
It also consists of several parallel sessions including the China-Laos and China-Cambodia investment symposiums, according to the organizer.
Lu Pengqi, vice chairman of the China Council for the Promotion of International Trade, said such activities will help deepen economic and trade cooperation between Lancang-Mekong countries..."
Source/publisher:
"Xinhua" (China)
Date of entry/update:
2019-12-05
[field_licence]
Type:
Individual Documents
Category:
Burma/Myanmar's relationship with the Global Economy, International Trade, Burma/Myanmar's Foreign relations, general
Language:
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Description:
"The US economy ended 2018 with a whimper and a 1.1 per cent annual rate of gross domestic product growth, and then started the first quarter of 2019 with a bang – 3.1 per cent growth. The economy has since settled back to 2 per cent or less, where it seems likely to linger unless major shocks occur.
The world economy is slowing, too, but fears of an escalation in China-US trade tensions or a very disorderly Brexit have eased. Three cuts in interest rates by the US Federal Reserve, along with large liquidity injections to prevent disorderly short-term money markets, have helped keep the economy turning over, if not humming. Consumers keep spending, but business investment is sluggish. Monetary authorities have eased about as much as they can. Short and long interest rates in the United States are now zero in real terms – adjusted to remove the effects of inflation and reflect real borrowing costs and yield – and negative in nominal terms in much of Europe and Japan.
A major question mark is China. It has not resorted to extremely expansionary credit growth or very large government deficits. Its economy is officially growing at about 6 per cent a year, but many outside experts suggest that the actual growth rate is 2 to 3 percentage points lower than that..."
Source/publisher:
"South China Morning Post" (Hong Kong)
Date of entry/update:
2019-12-01
[field_licence]
Type:
Individual Documents
Category:
Burma/Myanmar's relationship with the Global Economy, International Trade, China-Burma relations, Burma/Myanmar's Foreign relations, general
Language:
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Description:
"Myanmar earned over 2.28 billion U.S. dollars from export to foreign countries as of Nov. 15 in fiscal year (FY) 2019-2020 which started in October, according to figures from the Commerce Ministry on Wednesday.
Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products, manufacturing goods and others to foreign trade partner countries.
From Oct. 1 to Nov. 15, manufacturing goods were mainly exported, earning 1.12 billion U.S. dollars' capital, following by minerals with 526.8 million U.S. dollars.
This FY's total export increased by over 568.9 million U.S. dollars, compared to the same period of last FY 2018-2019 when it was 1.7 billion U.S. dollars.
Meanwhile, the country's total foreign trade reached over 4.59 billion U.S. dollars as of Nov. 15 this FY, with 2.3 billion U.S. dollars' import value..."
Source/publisher:
"Xinhua" (China)
Date of entry/update:
2019-11-27
[field_licence]
Type:
Individual Documents
Category:
International Trade, Burma/Myanmar's relationship with the Global Economy, Burma/Myanmar's Foreign relations, general, China-Burma-India relations, Border Trade with Bangladesh, Border Trade with Thailand
Language:
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Description:
"Trade between Myanmar and foreign countries reached over 2.3 billion U.S. dollars in the first month of present fiscal year (FY) 2019-2020 which started in October, according to figures released by the Commerce Ministry on Saturday.
As of Oct. 25, Myanmar earned over 1.15 billion U.S. dollars from its export while its import reached 1.2 billion U.S. dollars.
During the period, the country's foreign trade through sea route totaled over 1.78 billion U.S. dollars while its border trade amounted over 598.8 million U.S. dollars.
About 80 percent of the country's foreign trade are done through sea-borne trade and its border trade is being conducted through 17 border trade points with four neighbouring countries -- China, Thailand, India and Bangladesh.
Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products, manufacturing goods and others while importing capital goods, intermediate goods and consumer goods from other countries..."
Source/publisher:
"Xinhua" (China)
Date of entry/update:
2019-11-03
[field_licence]
Type:
Individual Documents
Language:
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Sub-title:
Myanmar saw a shrinking of its trade deficit to US$1.1 billion in fiscal 2018-19, the first time in six years that exports grew faster than imports.
Description:
"“The trade deficit for 2018-19 declined substantially due to higher export volumes and a dip in imports compared to last year,” said U Khin Maung Lwin, assistant secretary at the Ministry of Commerce (MOC).
While some question if the fall in imports is as a result of a slower economy, experts see no cause for concern yet, saying the dip is due to higher volumes of local production and stricter regulations. Meanwhile, they expect exports to rise further, driven by growth and investments.
Total trade volumes for the period between October 1, 2018 and September 30, 2019 were almost $35 billion, with exports valued at $16.9 billion compared to imports of $18 billion. At $1.1 billion, the trade deficit falls short of the government’s target of $500 million.
In comparison, total trade volumes the year before were slightly higher at $35.9 billion, with the trade deficit for that year exceeding $3 billion. Exports totaled $16.4 billion while imports were valued at $19.4 billion..."
Source/publisher:
"Myanmar Times" (Myanmar)
Date of entry/update:
2019-10-22
[field_licence]
Type:
Individual Documents
Category:
International Trade, Burma's economic relations with the region, Burma/Myanmar's relationship with the Global Economy
Language:
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Sub-title:
The Embassy of Japan in Myanmar, Japan External Trade Organisation (JETRO), and consultancy company Synergy Focus International will be organising the Japan-Myanmar Resource,Trade and Investment Expo 2019 for the first timeat the Yangon Convention Centre
Description:
"The event will largely cover sectors like real estate, banking, insurance, tourism, and SMEs.
The organisers say the event will feature 160 booths by up by large companies from Myanmar and Japan, among them tour, construction, industrial, banking, and insurance companies. Another 60 booths will be occupied by members of SME associations.
The event will feature introductions and business matching sessions with participants of in the event.
“We will make arrangements to hold this kind of event where local companies can get models for product manufacturing and best services from international companies. This is not only for product sales but also for partnership, technological discussions, exchanging notes on Japanese tradition and culture, and business data. I hope those who attend the event will be able to build connections and gain opportunities to explore foreign markets for their products,” said Synergy Focus International CEO U Lin Kyaw Tun.
“Myanmar companies can connect with international companies, especially Japanese companies, and expand their market at the event and from there, they can cooperate with Japanese companies for Myanmar’s reforms,” said U Thaung Han, the CEO of Max Myanmar Group, one of the event’s main sponsors..."
Source/publisher:
"Myanmar Times" (Myanmar)
Date of entry/update:
2019-10-04
[field_licence]
Type:
Individual Documents
Language:
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Sub-title:
Myanmar’s rice industry can be reignited by reforms. However, key challenges need to be addressed for the country to re-establish itself in the international market.
Description:
"Myanmar once held the distinction of being the world’s largest exporter of rice, accounting for one-third of the global rice trade in 1934-35. However, post-independence nationalisation of the industry resulted in a vicious cycle where low-quality inputs led to low-quality outputs, which soon became uncompetitive in the international market.
Reforms to the sector and the wider economy over the past decade have led to a revival of Myanmar’s rice export industry. With a target set by the Myanmar Rice Federation to achieve four million tonnes in exports by 2020-21, it is vital to build on this momentum by addressing the critical challenges that remain for the industry.
Of the many challenges facing the rice sector in Myanmar, issues of productivity and quality are key.....Productivity along the supply chain:
Low productivity at the farm level contributes to low yields in Myanmar’s rice industry. Many determinants of farm-level productivity relate to inputs, including seed, fertiliser and irrigation.
Since 1977, the Myanmar government has promoted high-yielding varieties (HYVs) of rice seed. However, the performance of HYVs in the country is frequently undermined by factors such as relying on harvested paddy for seed – which leads to seed degeneration over time – improper fertiliser use, insufficient irrigation and lack of drainage facilities..."
Source/publisher:
"Myanmar Times" (Myanmar)
Date of entry/update:
2019-09-27
[field_licence]
Type:
Individual Documents
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Description:
"A new treaty was signed in Yangon on Tuesday (Sept 24) allowing Singapore companies in Myanmar to turn to international arbitration for disputes over investment.
Minister for Trade and Industry Chan Chun Sing and Union Minister for Investment and Foreign Economic Relations U Thaung Tun signed it on the sidelines of the 7th Singapore-Myanmar Joint Ministerial Working Committee Meeting.
The legally-binding treaty sets rules on how Myanmar and Singapore should treat investments and investors of the two countries, said the Ministry of Trade and Industry (MTI).
It also ensures the freedom to transfer capital and returns, compensation rights and non-discriminatory treatment for investors in most sectors, among other things.
The Bilateral Investment Treaty on the Promotion and Protection of Investments between Singapore and Myanmar aims to promote greater investment flows between the two countries by giving investors greater certainty and confidence.
Mr Chan, in a Facebook post, said its signing marked another milestone in economic ties between the two countries and he expressed hopes it would encourage more Singapore companies to invest in Myanmar.
MTI said in its statement that the treaty’s protections are especially significant as Singapore is Myanmar’s largest foreign investor, with a cumulative investment of US$22.1 billion (about S$30.5 billion) as of last month .
Bilateral trade reached US$3.838 billion in the fiscal year 2017/18, figures from Myanmar’s Ministry of Commerce showed..."
Source/publisher:
"The Straits Times" (Singapore)
Date of entry/update:
2019-09-25
[field_licence]
Type:
Individual Documents
Language:
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Description:
Abstract:
"Since their accession to AFTA, trade volumes of CLM countries have being grown rapidly while their trade patterns and directions have significantly changed. Recognizing the importance of international trade in CLM [Cambodia, Laos, Myanmar]economies, this study attempts to analyze the trade patterns of CLM countries based the gravity model. The empirical analysis is conducted to identify the determining factors of each country's bilateral trade flows and policy implications for promoting their trade. The results indicate that CLM's trade patterns are mainly affected by partner country's GDP, the difference between per capita GDPs of two countries, distance, common border, and presence in particular FTA. Their trade relations with East Asian countries mainly China, Japan and Korea have yet to be exploited to their full potential. These findings suggest that CLM countries needs to promote their bilateral trade with countries in close proximity and having large economic size and high consumers' purchasing power through accelerating their trade liberalization efforts in FTAs in progress."..... Keywords: CLM countries, ASEAN, East Asia, FTA, Bilateral trade
Nu Nu Lwin
Source/publisher:
Institute of Developing Economies (IDE), JETRO
Date of publication:
2009-07-31
Date of entry/update:
2010-01-04
[field_licence]
Type:
Individual Documents
Category:
International Trade
Language:
English
Local URL:
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