Myanmar imports hit all-time high for this fiscal year

IMPORTS to Myanmar reached an all time high of US$13.6 billion this January, up $162 million from the previous year, according to an official from the Ministry of Commerce. The import volumes for this fiscal year were valued at US$13.6 billion according to figures received this year until the end of January, said Director U […]

UK provides $300m loan to boost exports to Myanmar

YANGON – The United Kingdom is seeking closer trade engagement with Myanmar, with US$300-million (Bt10.72 billion) in export financing to boost direct exports as well as drive infrastructure projects that require notable UK content. UK Transport Minister Lord Ahmad was here last Friday to unveil the export-finance facility, which will be extended directly to British […]

Government restricts forex to banks

Exporters and importers must use banks for foreign currency transactions, according to new government regulations. The new rules would be another step toward a functioning interbank currency market, but bankers are doubtful they can be immediately enforced. The government amended its 2012 Foreign Exchange Management Law last week to prevent exporters from selling foreign currency. […]

Over 35,000 Parking Space Recommendations Issued in Nine Months

In the last nine months, 35,282 parking space recommendations, which proves that a car importer has sufficient space to park the car, have been issued, according to the Ministry of Commerce. Under a new law, introduced in January this year, an individual importer or a company who apply for a car import licence need a […]

Poultry Farmers Want Gov’t to Limit Chicken Imports

Local poultry farmers want government to limit the import of chickens in order to keep local farmers competitive, according to the Myanmar Poultry Business Association. “We don’t want local businesspeople to suffer. Foreign chicken imports should be limited. If Myanmar imports too much, the local market will get affected. I intend to protect this,” Dr […]

Buyers Interested, Fisheries Failing to Produce

There are not enough fishery products in the country even though there is demand from abroad, U Tun Aye, chairman of Myanmar Fisheries Products Exporters Association, said. He was speaking at a meeting of Myanmar Fisheries Federation (MFF). “Japan is ready to buy as many Myanmar fishery products as possible. But the fishes are not […]

Trade Figures Disappoint; Domestic Uncertainty to Blame

Disappointing trade numbers released this month are due to border conflict and uncertainty over the minimum wage and currency devaluation, according to officials from the Ministry of Commerce. In 2015-16 fiscal year until June, maritime trade stood at $4.34 billion and border trade at $1.43 billion, for a total of over $5.77 billion of foreign […]

Myanmar Mushrooms to be Exported to S Korea, Singapore

Mushrooms produced in Myanmar will soon be exported to South Korea and Singapore, according to Myanmar Mushroom Producers and Traders Group. U Nay Win, chairman of the group, said that Myanmar mushroom manufacturers had fruitful discussions with interested parties with South Korea and Singapore who are interested in importing mushrooms in big quantities from Myanmar. […]

Mifan not Htamin: Rice Bags Must be Printed in Chinese

Legal exports of rice to China must include rice bags printed in Chinese language, according to an official from the Myanmar Rice Federation (MRF). The export of rice occurs mainly through the Muse border, where legal exports have recently started, but most rice passes through unsanctioned and illegal trade routes. According to the an agreement […]

Illicit Fish and Meat Flooding over Thai Border

Fish, prawns and chicken meat are being smuggled over the border in shipping containers from Thailand, according to a letter of complaint from the Kayin State Fisheries Association to the Myanmar Livestock Federation (MLF). “Prices of chicken and fish are high in Myanmar but prices outside of the country are low. There are containers coming […]