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China suspends rice imports from Myanmar after bank freezes

] Chinese merchants have suspended its rice imports from China-Myanmar border after a freeze on bank accounts of merchants, said Than Oo, secretary of Bayintnaung Rice Brokerage Center. “Rice prices remain unchanged as China has suspended rice imports from Myanmar. Rice prices will go up when there are high demands from China. Rice trading is […]

Jade sales fetch nearly $300 million

Myanmar earned over US$290 million (389.8 billion kyat) from jade exports up to the first week of this month in 2017-2018 fiscal year. Sales were down by over $210 million compared to the same period of last FY, according to the Ministry of Commerce. Last year’s sales for the period were $404, compared to $291 […]

Myanmar to Get Better Profit-Sharing Deal in Rakhine Port Project

Myanmar is set to receive a greater amount of the profit-sharing in a $7.2 billion deep-sea port development project in the town of Kyaukphyu in western Rakhine state, though negotiations with the main Chinese investor are ongoing, a commerce ministry official said Monday. A consortium led by CITIC Group Corporation Ltd., China’s state-owned investment company, […]

Sri Lanka Signs Rice Deal with Myanmar

Myanmar plans to export 0.2 million tonnes of parboiled rice and 0.3 million tonnes of white rice to Sri Lanka under a memorandum of understanding this year, according to Myanmar Rice Federation (MRF). The National Food Authority of the Philippines has invited a bid for the contract to buy about 50,000 tonnes of rice, according […]

Myanmar CMP Expected to Earn US $ 2 Billion for Garment Industry 

​​ Myanmar is expected to earn about US$ 1.855 billion from CMP (cutting, making and packaging) garment industry which includes the manufacturing of shoes, garment and bags, according to Ministry of Commerce. Export earnings from the garment industry through CMP has more than doubled since last year, according to the Ministry. “Myanmar has earned $1.4 […]

Massive Jump in Myanmar Garment Exports This Year

​​ In this financial year, the Myanmar apparel industry operating under the cut make pack (CMP) system, has exported more than $1 billion dollars worth of clothing till November 11. As against this, the country shipped garments totalling $408.4 million in the same period in the previous year, a massive jump of $690 million or 145 per […]

Myanmar car importers struggle to survive

MYANMAR car importers are fretting that auto sales will continue to drop until the end of 2017 if the government does not come up with a clear, comprehensive auto policy. Soe Tun, president of the Myanmar Automobile Manufacturers and Distributors Association and chief executive of Farmer Auto Showroom, said importers were waiting for the policy […]