doing business in myanmar – what you need to know as a singaporean
A local trade centre in Mon State is expected to open before the end of this year, U Phone Myint, a member of the Mon State Chamber of Commerce & Industry, told Myanmar Times.
The center, which will be located in Mawlamyine, aims to promote rubber products for starters when it opens later this year, he said.
“We aim to reduce to the red tape and procedures involved in the trading of rubber between buyers and farmers. This will benefit the farmers,” he said.
This move is in line with the National Export Strategy to promote trade of prioritise products, including rubber, and fuel sustainable development in the Myanmar agriculture sector.
Around 80 percent of the rubber produced in Myanmar is exported to China with the rest sold to Thailand, Malaysia and Japan as well as local factories.
There is currently some 1.7 million acres of rubber plantation land in Myanmar. Around 700,000 trees are now at the right age for harvesting natural rubber. Myanmar rubber prices are currently around K800 per pound.
“Rubber is mainly cultivated in our region, that why rubber is the first product we will promote. Other crops will be included later,” U Phone Myint told Myanmar Times.
“Mon State is the first step. The next move will be to open trade centers to support farmers in Kayin and Tanintharyi, U Phone Myint said.
Source: Myanmar Times
To see the original article click link here
