Myanmar forest-cutting continues despite government efforts

PINLEBU, Myanmar (AP) — The hills of northern Myanmar’s Sagaing region were so legendarily thick with forests that in the days of kings, condemned criminals were ordered into the woods as a death sentence. Today illegal logging has left vast swaths of bare patches, with only a handful of old-growth stands. Despite a temporary ban […]

Myanmar records trade deficit for four years in succession

A TRADE deficit has been reported in Myanmar for four years in succession as the value of exports fell more than the value of imports, according to an official from the Ministry of Commerce. The country remains locked into a trade deficit this fiscal year, said Director U Win Myint of the ministry. Myanmar has […]

India setting up 9 border trade points with Myanmar

Keen to boost border trade between Northeast India and the neighbouring Southeast Asian countries, the Indian government is setting up nine border haats or markets along the border with Myanmar, a top official said on Wednesday. Addressing the inauguration of the Eighth Delhi Dialogue here, Anil Wadhwa, Secretary (East) in the Ministry of External Affairs […]

Thai’s BOI to open branches in Myanmar and Indonesia in push for investment abroad

THE BOARD of Investment plans to open branches in Myanmar and Indonesia next year as a priority measure to encourage Thai companies, and small and medium-sized enterprises in particular, to invest overseas. This will improve their opportunity to invest in new production plants in new export markets to boost income growth for the long term, […]

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 […]

Kyat appreciates as imports slow ahead of Chinese New Year

As trade and other businesses wind down in the run-up to the Chinese New Year festival, and sentiment about the political transition improves, the kyat has strengthened in value to a three-month high against the US dollar. The value of Myanmar’s currency has fallen more than 25 percent to the dollar over the past year, […]

Shan State officials seek new route for China trade

Shan State officials say they are planning to conduct surveys for a new road that would divert traffic from one of Myanmar’s main trading routes and open up business with China. The Mandalay-Lashio-Muse Road, which passes through Shan State, is plagued by constant traffic jams and frequent accidents, said U Aung Kyaw Nyunt, minister for […]

India-Myanmar border trade slumps

The ban on barter has almost shut down overland trade with India, local merchants say. Since the popular barter system was suspended at the Myanmar-India border post of Tamu, cross-border trade has slumped. On December 1, India ended long-standing rules allowing border trade to be settled by an exchange of goods up to the value […]

Dry port discussions under way on China border

The Shan State government has approved the project, and has asked First Golden Dragon Company to secure consent from landowners, said Muse district administrator U Kyaw Kyaw Htun. The company hopes to build a 210-acre dry port including a highway bus station, space for trucks to load and unload, cold storage and new warehouses, he […]

Yoma Bank and ICBC to facilitate cross-border business

Yoma Bank’s Chief Business Officer, Daw Khin Mu Mu Myint, and the Industrial and Commercial Bank of China’s (ICBC) General Manager of the Yangon Branch, Mr. Jiang Yun, have signed an agreement facilitating the direct flow of trade-related funds between Myanmar and China according to a Yoma Bank media release on 9 September. ICBC has […]