Monday, July 10, 2017

Photo credit: Supplied
The export inspection gate at Myawaddy
Border trade with Thailand is up $9 million dollars this fiscal which began in April, figures of the Min­istry of Commerce show.
Since the beginning of April until June 16 bor­der trade with Thailand topped $250 million through seven border gates including Tachilek, Myeik and Myawaddy.
Despite the increased trade volume, Myawaddy, the second largest trade gate in the country, saw trade decrease by of over $4 million compared to last year while Tache­lik and Hteekhee border gates saw lesser decreas­es.
Meanwhile, Myanmar's trade deficit continues to grow after the ministry revealed border exports country wide dropped by almost $20 million while border imports rose by $70 million compared to the same period last year.
From the period of April 1 to June 16 border trade hit $2.47 billion, $50.7 million more than last year.
The drop in exports can be attributed to decreased activity at the Muse bor­der gate, the country's largest in terms of trade volume, the ministry said.
As of June 16, $1 billion worth of border trade had passed through Muse, which connects Shan State and China's Yunnan Province, while $132 mil­lion passed through Kyain State's Myawaddy and $35.8 million through Myeik in Tanintharyi Re­gion.
Border trade with Thai­land is expected to be boosted next year when the Myanmar Automatic Cargo Clearance System (MACCS) comes into op­eration at the Myawaddy trade gate.
MACCS is part of the ASEAN Single Window System which aims to speed up the flow of trade and simplify the flow of cross-border information as ASEAN seeks to be­come a competitive single market.
Myanmar's main ex­ports through Myawaddy are agricultural, fishery and forestry products while its main imports are batteries, milk pow­der and personal care products like toothpaste and soap.

Source>MyanmarBusinessToday

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