China Myanmar trade booming

Myanmar-China Trade and Investment Cooperation Forum in Yangon on October 22.

According to Yang Xiuping, secretary general of the Asean-China centre, operations worth US$12.2 billion have been completed out of the projected US$18.5 billion.

She said that China would strive towards boosting trade between the two countries and seek the cooperation of Myanmar to combat illegal trade.

Win WinMyo, deputy director of commerce, said: “Even though some of her data does not exactly match our official records, it is definite that the Myanmar-China trade is growing year by year. We mainly export to China natural gas, jade, agricultural products, garments and minerals. The imports are machines, metal work, motor vehicles and their parts as well as mobile phones and spare parts for the imports. There are more than 7,700 trade channels between the two nations and there are some items that are tax-free for us to export to them. I would ask that the nations step up cooperation in combating illegal trade.”

In 2014, China-Myanmar trade totalled US$25 billion so far in 2015, China had already invested US$3.9 billion in electric power, mining, oil and gas sector as well as transport.

 Source: http://www.elevenmyanmar.com/business/china-myanmar-trade-booming

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