Myanmar and China signed memorandum on import

China signed a Memorandum of Understanding (MoU) with Myanmar at China-Myanmar Trade Fair (Muse)-2012 to import consumer goods, according to the statement of Myanmar’s Ministry of Commerce.

The imported goods include raw battery, machinery and tools for mining industries, textile and medicines. The contract is valued at US$41 million.


Myanmar also signed the memorandum to export US$144 millions worth of products such as sesame, rubber and lead metal to China, according to the Ministry of Commerce.

Myanmar-China border trade value amounted to about US$1 billion in 2008-09 fiscal year, US$1.8 billion in 2010-11 fiscal year and US$2.9 billion in 2011-12 fiscal year. Statistics show that Myanmar registers a trade surplus with China every year.

Illegal border trade activities go rampant at Myanmar-China border as well as Myanmar-Thailand border. The illegal border trade volume is even larger than that of the legal trade, according to sources from the Ministry of Commerce.

 “The illegal export from Mae Sot to Myawaddy was US$682 million from January to July and the export with licence was only US$36 million,” a Ministry of Commerce official who asked not be named said. This is just the statistics from one trade centre, and “we saw [statistics] like that in every border trade centre, the source said.

source: Eleven Myanmar
http://www.elevenmyanmar.com/business/1824-myanmar-and-china-signed-memorandum-on-import