Rice federation proposes exports via Pathein, Sittway ports

Officials from Myanmar Rice Federation have submitted a plan to export rice via seaports in Pathein, Ayeyawady Region, and Sittway, Rakine State, in addition to Yangon ports, especially to Bangladesh.

The proposal was made during a regular meeting between Vice President Myint Swe and Myanmar businesspeople at the office of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry on September 23.

The entrepreneurs also demanded the cancellation of a 2 per cent advance income tax for exporting rice to Bangladesh through government-to-government sales agreements.

Myanmar and Bangladesh recently signed a memorandum of understanding for the first time after more than 20 years. According to the MoU, sales contracts will be made for Myanmar to export 250,000 tonnes of white rice and 50,000 tonnes of parboiled rice annually for five years, starting this year.

Thanks to the agreement, Myanmar will be able to export high-quality rice, though it will be inferior to the quality of rice that was exported to Bangladesh in the past.

Over a million tonnes of rice were exported over five months this fiscal year, and it exports are expected to reach two million tonnes by the year’s end, according to the rice federation.

Myanmar is seeking a similar rice export agreement with Sri Lanka, according to an official from the Ministry of Commerce.

“We have also informed China about the rice export agreements. Now, we are in coordination with Sri Lanka to export our rice under a government-to-government system,” said the official.

Source : Eleven Myanmar