Sino-Myanmar bilateral trade down by $345 mln as of 15 July


July 27,2022

FOLLOWING changes in some trade policies, the value of bor­der trade between Myanmar and a major trade partner Chi­na dropped by US$345 million in three and a half months in the current financial year 2022-2023 compared to the corresponding period last year, the statistics re­leased by the Ministry of Com­merce indicated.


At present, cross-border exports came to a halt owing to a volatile forex market, the gap between the regulated exchange rate and the market rate and a red-tape (seek an export licence for various beans and pulses).


The value of Myanmar-Chi­na border trade in all five border areas touched a low of $654.296 million between 1 April and 15 July, comprising exports worth $548.7 million and imports worth $105.569 million.


The figure significantly plummeted from over $999 mil­lion recorded in the year-ago period.


In the past three and half months, border trade values amounted to $526.94 million through Muse border, $59.378 mil­lion via Lweje, $25.95 million via Chinshwehaw, and $38.074 million via Kampaiti, and over $3.952mil­lion via Kengtung. The Com­merce Ministry’s data showed a drop in trade value through all border posts between Myanmar and China, except Kampaiti.


Earlier, China banned Myan­mar trucks and drivers to enter its side owing to the COVID-19 protocols and only Chinese short-haul drivers were allowed to transport the goods. This caused the problem of delays and bulk supply owing to the lack of Chinese short-haul truckers, prompting the op­erators to charge the transport rate to exorbitant prices.


Myanmar trucks are given the go-ahead for bor­der-crossing through the Ky­insankyawt-Wang Ding trade channel out of Muse border points under the driver-sub­stitution system starting from 16 May 2022, said U Min Thein, vice-chair of the Muse Rice Wholesale Centre.


China shut down all the checkpoints linking to the Muse border amidst the COV­ID-19 pandemic. Of the check­points, Kyinsankyawt has re­sumed trading activity from 26 November on a trial run. Myanmar daily delivers rub­ber, green gram, chilli pepper, onion, mango and other food commodities to China through the Kyinsankyawt post.


Myanmar has opened five border trade zones with China; Muse, Lweje, Kampaiti, Chinshwehaw and Kengtung. The majority of the trade is carried out through the Muse land border, the Ministry of Commerce’s data indicated.— KK/GNLM