Narinjara News


TEKNAF PORT OPENS TOMORROW TO BOOST TRADE WITH MYANMAR

COX'SBAZA, 21st JANUARY 02: Bangladesh will open a river port at Teknaf tomorrow to boost trade with neighbouring Myanmar.
Shipping Minister Akbar Hussain and Commerce Minister Amir Khasru Mahmud Chowdhury will inaugurate the port to be located on the banks of the Naaf river that separates the two neighbours. It will act as a major hub for export and import activities between two countries.
The Teknaf river port will provide the shortest river line with Maungdaw on the other side of the Naaf. Initially traditional water vessels will ferry cargo. The port will act as a gateway for bulk export and import of commodities. The two countries may consider setting up river ferry services in future and even constructing a bridge. Plans are also afoot to construct improved road to access the Teknaf river port.
Myanmar and Bangladesh have a border trade agreement in place for several years, but due to lack of port and other infrastructure facilities, traders prefer to smuggle goods across the border instead of using authorised routes.
To augment bulk cargo handling facilities, the port to be supervised by the Bangladesh Inland Water Trade Authority will make provisions for large-scale warehouse and customs facilities.
Commerce Minister Amir Khasru told the Daily Star that the port would boost the country's trade with Myanmar.
Both Bangladesh and Myanmar are working on a draft agreement to establish a coastal shipping line shortly. The coastal shipping line will provide sea links between Bangladesh ports--- Chittagong, Coxs'bazar and Teknaf and Myanmar ones --- Yangon, Akyab( Sittwe) and Maungdaw.
Through these initiatives, local exporters would be able to enter the Myanmar Market in a bigger way with products ranging from cosmetics to toiletries, from newsprint to fertilizer, policy makers believe. The country's textile and pharmaceutical products also have a good demand in Myanmar. There is also demand for cables and bottled juice, ceramic items, leather goods and tobacco.
On the other hand, Bangladesh has a market for Myanmar timber, forest products, bamboo, fresh vegetables, chillies, spices, betel nuts, shrimp and livestock.
A single country Bangladesh export fair will be held in Yangon shortly to explore market.#

Source: Bangladesh Daily Star