Business / Economy

Myanmar-China border trade picks up in 5 months of 2016-17 fiscal year

(Xinhua) Updated: 2016-09-03 14:27

YANGON - Trade value between Myanmar and China picked up in the first five months of 2016-2017 fiscal year, reaching $2.296 billion, the Myanmar Ministry of Commerce said on Friday.

The four border gates, which link China, are Muse in northern Shan state, Lwejel in Kachin state, Chin Shwehaw in northeastern Shan state and Kanpite Tee in Kachin state, of which Muse border gate stands the largest trade zone with maximum trade value transacting between the two neighbors.

However, trade value through Muse gate alone dropped $114.083 million to $1.95 billion during the five-month period as there were some restrictions by China on rice trading and other items as well as traffic jam on the route to Muse which slowed down trade activities in the early months of this year.

Myanmar mostly exported rice to China, while the others are agricultural products, jade and raw materials.

Myanmar has 15 border trade points with China, Thailand, India and Bangladesh. The total border trade value with the four neighboring countries during the first five months of this fiscal year reached $2.816 billion .

The Myanmar government has planned to open more border trade points under the second short-term five-year National Comprehensive Development Plan which spans from 2016-2017 to 2020-2021.

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