Myanmar Trade Centre to open in Singapore

Myantrade has plans to open a Myanmar Trade Centre in Singapore in the near future to provide support for the country’s agricultural exports.

Secretary of the Myanmar Fruit, Flower and Vegetable Producer and Exporter Association said the trade centre – which will be monitored closely by the Myanmar Embassy to Singapore – can help
Myanmar expand its farming exports to the city-state.

“Singapore is one of Myanmar’s trading partners. Singapore imports fruits such as Sein Ta Lone (mangoes) and muskmelons from Myanmar. Delivery time from Myanmar to Singapore is just a
week. Singapore’s population is small so we cannot sell a lot (to them) but their consumption and spending power is high. This creates a market for us,” said U Kyaw Thu, adding that exporting agricultural products to Singapore is a relatively easy process.

“Exporting to Singapore only requires a quality control certificate and there are not many import restrictions,” he said.

“We can export any fruit. It is good if our products can penetrate the market,” said the secretary, adding that Singapore is located close to Myanmar, allowing them to export products that have a shor shelf life.

“Singapore is near to Myanmar. Grapes from Yamethin can be exported to Singapore’s market,” he said.

Trade between Myanmar and Singapore was valued at more than US$3,900 million in the 2019-2020 fiscal year, with Myanmar exports exceeding $700 million.

Singapore, meanwhile, is one of Myanmar’s largest investors, accounting for 45.85 percent of the country’s total foreign investments. The city-state has invested in the urban development, real estate, and energy and production sectors of Myanmar.

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Source : Myanmar Times

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