Myanmar’s border trade volume with its western neighbour Bangladesh in the ongoing financial year has increased if compared to the year before despite the Rakhine issue, according to the statistics of the Ministry of Commerce.
Myanmar-Bangladesh trade value through Sittwe border trade camp during the 2017-2018 financial year up to November 3 reached $6.48 million, resulting in a year-on-year increase of more than $4 million. Border trade value between the two countries in the same period of the 2016-2017 financial year only stood at $2.37 million.
Myanmar regularly enjoys a positive balance in its border trade with Bangladesh. There are two trade camps, Sittwe and Maungdaw, in western front of Myanmar to perform trade with Bangladesh.
Myanmar mainly exports marine products and rice to Bangladesh, while the volume of imports from Bangladesh is rather small, according to Khin Maung Lwin, Under Secretary at the Ministry of Commerce.
Myanmar-Bangladesh trade value through Maungdaw border trade camp during the current budget year has also resulted in a year-on-year rise, although trade activities at the camp temporarily halted in the times of recent violence in Rakhine State.
Myanmar has entered into border trade agreements with four out of its five neighbouring countries; China, India, Thailand and Bangladesh. There are a total of 16 border trade posts in Myanmar at present.
