The bilateral trade between Myanmar and Bangladesh increased USD $ 730 million in the third quarter of 2019 – 2020 fiscal year

Bilateral border trade stood at over US$ 747.63 million as of 26 June in the current 2019-2020 fiscal year (FY) which saw an increase of $730 million from the corresponding period of last year, according to the Ministry of Commerce. At this time last FY, Myanmar-Bangladesh trade through two borders hit $17.26 million, with exports worth $15.98 million and imports amounting to $1.27 million. When compared with last FY, this FY saw a significant increase in the value of exports by $427.42 million while the bilateral imports rose by $302.96 million. Between 1 October and 26 June, Myanmar exported $443.4 million worth domestic products to Bangladesh and imported goods valued over $304.2 million. Myanmar exports goods to Bangladesh through both maritime and land routes. Bilateral border trade is conducted mainly through the Sittway and Maungtaw points of entry. The products traded between the two countries include bamboo, ginger, peanuts, saltwater prawns and fish, dried plums, garlic, rice, mung beans, blankets, candy, plum jams, footwear, frozen foods, chemicals, leather, jute products, tobacco, plastics, wood, knitwear and beverages.
The trading through Sittway land border has been suspended temporarily after the coronavirus positive patient 292 was found in Sittway checkpoint. However, bilateral through Maungtaw border crossing is still being conducted regularly. During the pandemic period, the trade is still being conducted through Maungtaw border although the crossing has been suspended for people to cross. At present, the bilateral trading was suspended for a temporary period though Sittway land border. So, the cargoes which have been prepared to export will be traded through Maungtaw border, according to the traders. Currently, cargo boatmen, who came back from Bangladesh through Maungtaw border, are restricted from travelling, thus they have to stay at the private buildings in the jetty. The imported cargos from Bangladesh are also sprayed before being allowed to load onto the jetty. For prevention of the spread of coronavirus disease, the fire service personnel from Maungtaw township sprayed all-cargo boats in Maungtaw border with the disinfectants at 10:30 am on 1 July.—Zwe (Translated by Hay Mar)

(The Global New Light of Myanmar: https://www.globalnewlightofmyanmar.com/myanmar-bangladesh-border-trade-increases-by-730-mln-in-2019-2020fy-q3/ )

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