Myanmar Puts Off Again Opening Of Second Border Trade Zone

[sbk]

Myanmar puts off again opening of second border trade zone

www.chinaview.cn 2008-12-10 19:33:28 Print

YANGON, Dec. 10 (Xinhua) -- Myanmar has put off again the opening of a new border trade zone, which is opposite to Thailand, for the third time due to the current situation in the southeast Asian neighbor, the local weekly 7-Day News journal reported Wednesday without a new date set for move.

The formal inauguration of the Myawaddy border zone, the second largest of its kind in Myanmar after the Muse 105th Mile Border Trade Zone with China, was first scheduled for March this year but was reset for Dec. 7 for the second time.

Despite postponement, border trade between Myanmar and Thailandare operating normally, the report said.

The 193-hectare Myawaddy trade zone in southeastern Kayin state bordering Thailand's Maesot, which is to highlight export of Myanmar marine products, was constructed by three Myanmar companies since 2007, the report added.

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

According to official statistics, in the fiscal year of 2007-08which ended in March, Myanmar-Thai bilateral trade reached 3.205 billion U.S. dollars, of which Myanmar's export to Thailand took 2.823 billion dollars, while its import from Thailand accounted for 382 million dollars.

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), a 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.

Meanwhile, the State Customs Department's figures indicate that Myanmar’s total foreign trade volume in 2007-08 stood 8.851 billion dollars, a new high against 2006-07's 8.1 billion dollars.

Of the total, the exports took 6.043 billion, while the imports accounted for 2.818 billion dollars registering a trade surplus of 3.225 billion dollars.

Myanmar main export goods are natural gas, agricultural, marine and forestry products, while its key import goods are machinery, crude oil, edible oil, pharmaceutical products, cement, fertilizer and consumers goods.

source: Xinhua net.com