doing business in myanmar – what you need to know as a singaporean
Myanmar expects to export up to US$1 billion worth of marine products in fiscal 2020-21 notwithstanding disruptions as a result of COVID-19, said U Wai Lin Maung, Director General of the Department of Fisheries under the Ministry of Agriculture, Livestock and Irrigation.
This is around 17 percent higher than in fiscal 2019-20, when the country raked in US$853 million in marine exports, a 20-year high at the time.
Myanmar is expecting higher overseas demand for its fisheries and other marine products with Saudi Arabia having lifted a 2018 ban on fisheries imports. Myanmar’s marine products are mainly exported to Thailand, China and Europe.
However, as these are perishable products, more cooperation between the related ministries is needed to manage internal transport and storage and minimise delays at the ports both in Myanmar as well as overseas, U Wai Lin Maung said.
Last month, Saudi port authorities seized and detained 30 containers of Myanmar fisheries worth US$80,000 each due to confusion over customs and policies.
U Wai Lin Maung added that his department will support local aquaculture farmers and fishermen facing difficulties to avoid disruptions.
Source : Myanmar Times
