Narinjara News

Cox’s Bazar, April 28

Burma becomes a source of raw materials for Bangladesh

Burma has become a source of raw materials for Bangladesh through the exportation of several kinds of raw materials to Bangladesh via both legal and illegal methods.  This trade trend is a result of failing Burmese businesses in the recent years, said a top businessman from the Taknef border town in Bangladesh.

Burmese businessmen have been exporting several kinds of raw materials to Bangladesh, including rice, wood, fruit, husbandry animals and their skins, fish and raw iron materials, through the Teknaf border seaport.

According to border business sources, currently the raw material of scrap iron from Burma is in higher demand in Bangladesh markets than other raw materials because Bangladeshi iron factories are facing a shortage of raw iron material.

"Several loaded boats from Burma come to Bangladesh for the exportation of raw iron materials. A number of businessmen from both Bangladesh and Burma are involved in this process right now." a businessman said

One kilogram of raw iron material is currently valued at 16 Taka in the markets of Bangladesh  and is considered a high profit for raw material businessmen in the border businesses.

"The Bangladeshi local authority treats raw iron material as an exempted  good because it lures Burmese businessmen and, thus, increases the exports from Burma to Bangladesh," said another trader from Burma.

Furthermore, the Bangladeshi authority recently determined to give rice to Burmese traders in exchange for duty free products in Bangladesh, with the intention of fulfilling the

country's demand of rice this year.

For that reason, many Burmese traders are currently exporting not only  raw materials of iron, but also rice from Burma to Bangladesh by waterways  across the Bay of Bengal. #

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