12th Myanmar-China Border Economic and Trade Fair open in Myanmar

12th Myanmar-China Border Economic and Trade Fair open in Myanmar

The 3-day 12th Myanmar-China Border Trade Fair opened in Myanmar's Muse 105th Mile Border Trade Zone in Northern Shan State Sunday.

With about 218 standard booths, including 123 booths from the Chinese side, 93 booths from the Myanmar side, and 2 booths from Thailand, the exhibitors mainly display agricultural products, marine products, gems and jade, traditional handicrafts, traditional medicine, furniture, electronics and household goods.

At the opening ceremony, Myanmar Deputy Minister of Commerce Dr. Pwint Hsan said the Muse 105th Mile Trade Zone is one of Myanmar's most important border crossings and accounts for 70% of the trade volume in border trade with neighboring countries.

The Myanmar government pays attention to border region development and border trade and economic cooperation with China.

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Gao Shuxun, vice governor of China's Yunnan Province, which shares border with Myanmar, said Myanmar is the largest foreign trade partner of his province.

In Y 2011, total import and export between Yunnan and Myanmar reached US$2.071-B, increasing by 17.8% from the previous year and accounting for more than 30% of the total China-Myanmar trade.

From January to October 2012, 2-way trade stood at US$1.722-B, + 2.2% Y-Y, and the trade volume this year is expected to exceed last year.

The China-Myanmar Border Trade Fair is an annual event held on a rotating basis in Muse of Myanmar and Ruili of Yunnan since Y 2001 and has become an important link between China and Myanmar in trade and economic exchanges and a cooperation platform for economic development.

According to Chinese official statistics, trade between China and Myanmar totaled US$6.5-B in Y 2011, + 46.3% Y-Y. In the 1st 9 months this year, the bi-lateral trade amounted to US$5-B, + 4.5% from a year earlier.

According to Myanmar statistics, China is the #1 investor of Myanmar with a total investment of US$14.14-B up to August 2012.

Source: http://www.news.myanmaronlinecentre.com/2012/12/10/12th-myanmar-china-border-economic-and-trade-fair-open-in-myanmar-3/