Myanmar Plans Opening Of Second Border Trade Zone By Next Month

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Myanmar plans opening of second border trade zone by next month

www.chinaview.cn 2008-02-25 11:32:18 Print

YANGON, Feb. 25 (Xinhua) -- Myanmar is working for the emergence of its second border trade zone of Myawaddy and the formal opening of the trade zone opposite to neighboring Thailand is expected by the end of next month, one of the leading local weekly journals reported Monday.

The 188-hectare Myawaddy trade zone in southeastern Kayin state bordering Thailand's Maesot, which is to highlight export of Myanmar marine products, started building in 2006 in a bid to push transformation of border trade into normal trade, said the Weekly Eleven News.

The Myawaddy trade zone is to stand the second largest zone of its kind in Myanmar after the Muse 105th Mile Border Trade Zone with China's Ruili in southwestern Yunnan province which opened in April 2006.

Besides Myawaddy, Myanmar also trades with Thailand at Tachilek, Kawthoung and Meik (Free on Board) under the border trade system.

Meanwhile, Myanmar is deliberating to open one more border trade zone in Phaya Thonzu with Thailand to boost such trade activities between the two countries, another leading local weekly Yangon Times reported earlier.

Under a latest proposal of Thailand to Myanmar's largest business organization of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), the prospective Phaya Thonzu border trade zone in Mon state's Thanphyuzayat township connecting Thailand's Kanchanaburi province, will be established as another one of its kind after Myawaddy's, the weekly quoted the UMFCCI as saying.

Phaya Thonzu stands at a point where railroads of the planned ASEAN Highway meet and the introduction of a border trade zone there will also boost regional trade and bring prosperity and development to the area, according to merchants trading in border areas.

According to official statistics, Thailand stood as Myanmar's top trading partner as well as top exporting country during the fiscal year 2006-07 with a bilateral trade volume of 2.659 billion U.S. dollars of which Myanmar's export to Thailand amounted to 2.409 billion dollars. The bilateral trade accounted for over 30 percent of Myanmar's total foreign trade which reached nearly 8 billion dollars in the year.

The figures also show that the border trade volume between the two countries in 2006-07 amounted to 248 million dollars.

Latest statistical report reveal that in the first half (April-September) of 2007-08, Myanmar-Thailand bilateral trade reached 1.943 billion dollars, of which Myanmar's export to Thailand came to1.694 billion dollars.

In May 2007, a Myanmar border trade zone, Maungtaw, in western Rakhine state linking Bangladesh was formally opened to mainly export marine products to the neighbor.

Besides, another trade zone of the same kind is being established in Tamu, northwestern Sagaing division bordering India.

Myanmar has a total of 13 main border trade points with four neighboring countries -- China, Thailand, India and Bangladesh.

Source: Xinhua