doing business in myanmar – what you need to know as a singaporean
Ministry of Commerce will sign a MoU with Yunnan provincial government in June to officially export rice, sugar, maize and other agricultural products to China, said U Khin Maung Lwin, assistant permanent secretary of the Commerce Ministry.
“Trade Department will sign the MoU with Yunnan province government to export agro products to China and import agricultural equipment, fertilizers, electronics and steel and steel equipments from China. The MoU signing came after detailed discussions with relevant organizations, Union of Myanmar Federation of Chambers of Commerce and Industry and Myanmar Rice Federation,” he added.
This MoU signing between the two countries exceeds the quota. Currently, there are border trade and maritime trade. The country exports goods to other countries via normal trade routes. It is a bilateral talk. It has nothing to do with quota.”
“In fact, merchants from both countries will sign contracts,” he continued.
China is the biggest trading partner of Myanmar.
At a coordination meeting on development of China-Myanmar border trade, Union Commerce Minister Dr Than Myint said, the border trade volume at China-Myanmar border is the highest. Development of border trade would bring benefits to traders including ethnic entrepreneurs as well as bringing about more revenue income, more employment opportunities and improvement of transport sector and socio-economic status of locals.”
Source : Eleven Myanmar
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