Economic review

Myanmar-China border trade rises in FY 2016-17

2017-04-21 15:20:00 (Beijing Time)         Xinhua

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Border trade between Myanmar and China increased by over 30 million U.S. dollars in the last fiscal year 2016-2017 which ended in March, according to the Myanmar Ministry of Commerce Thursday.

The bilateral border trade reached 5.967 billion dollars in the 2016-2017 fiscal year, while that of the previous fiscal year 2015-2016 amounted to 5.936 billion dollars.

The four border gates linking 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 transaction zone between the two neighbors.

The Myanmar-China border trade dropped in recent months after an armed conflict hit Myanmar's Kokang region in northeastern Shan state early this year and border trade through Muse was temporarily suspended.

Except dropping by 292.57 million dollars to 5.085 billion dollars in trade value through Muse gate in 2016-17, other border gates made up the overall increased value.

Myanmar's export to China through border trade reached 4.212 billion dollars.

Myanmar mostly exports rice to China, followed by other products such as agricultural products, jade and raw materials.

The total bilateral trade value through both normal and border trade reached 9.446 billion dollars in the first 11 months of the fiscal year 2016-2017.

Myanmar has 15 border trade points with the neighboring China, Thailand, India and Bangladesh.

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.