Myanmar has exported more than US$ 11 million worth of products, mainly in garments and fishery, to the United States this fiscal year, according to government statistics.
The figures show a sizeable increase from US$ 2.81 million earned in exports to the U.S in the same period last year.
The United States lifted economic sanction on Myanmar to increase the economic ties between the two countries and support democratic reforms.
“Myanmar has been closely watched by international community. We have to cooperate affectively in this situation and also need to discuss about laws to ensure transparency when it comes to investing in Myanmar,” a businessman said.
An official from Myanmar Fishery Federation said: “We are exported fishery products to U.S. market for the first time. They have mostly been exported via sea routes.”
Myanmar is using border trade to do business with new countries and its main partners are Thailand, China, Malaysia, India, Singapore, Japan, South Korea, Germany, Hong Kong, Indonesia and the United Kingdom.
The total trade income is more than US$ 8.4 billion within five months.
Source: ELEVEN Myanmar