Myanmar, Bangladesh seek promotion of trade
YANGON, May 16 (Xinhua) -- Bangladesh Foreign Minister Dr. DipuMoni, who is currently on an official visit to Myanmar, held talks with her Myanmar counterpart U Nyan Win in Nay Pyi Taw Friday covering promotion of bilateral trade and mutually beneficial cooperation between the two countries.
The two foreign ministers had the discussions shortly after Moni arrived the new capital Friday on an official visit to Myanmar.
Besides calling on Myanmar Prime Minister General Thein Sein, Moni also met with Myanmar Minister of Energy Brigadier-General Lun Thi and Minister of Home Affairs Major-General Maung Oo on theday.
Moni's visit came after a joint trade commission of Myanmar and Bangladesh met in Nay Pyi Taw last month to seek ways of boosting bilateral trade cooperation.
Comprehensive discussions had been made between Myanmar delegation, led by Deputy Minister of Commerce Brigadier-General Aung Tun, and Bangladeshi delegation, headed by Secretary of Commerce Feroz Ahmed, at the third meeting of the commission.
That discussions covered extended export of Myanmar's products especially agricultural produces.
In February this year, businessmen of Myanmar's Federation of Chambers of Commerce and Industry and Bangladesh Bank delegation also met in Yangon to seek ways of enhancing economic and trade cooperation between the two countries.
Noting that it was encouraging its private sector to export rice to Bangladesh to supplement its need, the Myanmar side said it was also undertaking many important communication linkages in the western Rakhine state, adding that transport facility and smooth flow of commodity will improve soon between the two countries through the state.
The Myanmar side proposed to establish banking arrangements between the two countries to promote trade, stressing the need for Myanmar's Investment and Commercial Bank and the Myanmar Foreign Trade Bank to have corresponding banks in Bangladesh for effective and reliable payments related to trade transactions.
At that meeting, the Bangladesh side also emphasized the need to promote the bilateral trade and change the trend of border trade to normal trade, disclosing that Bangladesh wants to invest in Myanmar's agriculture and livestock breeding sectors through bilateral cooperation.
Meanwhile, Myanmar has planned to add one more border trade point in the Rakhine state linking Bangladesh, according to the Directorate of Border Trade.
Tender for building the infrastructure of the new border trade point planned at Taungphyo township has been called for and the Taungphyo border trade point will be Myanmar's third with Bangladesh after Sittway and Maungtaw in the same state.
Currently, Myanmar and Bangladesh are engaged more in border trade than in normal trade. Myanmar exports to Bangladesh marine products, beans and pulses, and kitchen crops, while it imports from Bangladesh pharmaceuticals, ceramic, cotton fabric, raw jute, kitchenware and cosmetic.
The two countries formally opened border trade in 1994.
Bilateral trade between Myanmar and Bangladesh now stands at 140 million U.S. dollars and a target of 500 million dollars for the next fiscal year 2009-2010 is being strived.
Official statistics show that Myanmar exported 23,000 tons of marine products to Bangladesh annually, standing as Bangladesh's fifth largest marine products importing country out of 30.
During a visit to Dhaka by Vice-Chairman of the State Peace and Development Council Vice Senior-General Maung Aye in early October last year, the two sides decided on purchase of 100,000 tons of rice from Myanmar by Bangladesh, import of pharmaceuticals from Bangladesh, construction of a 25-kilometer trans-border road and delimitation of maritime boundary.
An agreement on avoidance of double taxation was also signed during the Myanmar leader's Bangladesh trip.
Myanmar, Bangladesh seek promotion of trade _English_Xinhua
YANGON, May 16 (Xinhua) -- Bangladesh Foreign Minister Dr. DipuMoni, who is currently on an official visit to Myanmar, held talks with her Myanmar counterpart U Nyan Win in Nay Pyi Taw Friday covering promotion of bilateral trade and mutually beneficial cooperation between the two countries.
The two foreign ministers had the discussions shortly after Moni arrived the new capital Friday on an official visit to Myanmar.
Besides calling on Myanmar Prime Minister General Thein Sein, Moni also met with Myanmar Minister of Energy Brigadier-General Lun Thi and Minister of Home Affairs Major-General Maung Oo on theday.
Moni's visit came after a joint trade commission of Myanmar and Bangladesh met in Nay Pyi Taw last month to seek ways of boosting bilateral trade cooperation.
Comprehensive discussions had been made between Myanmar delegation, led by Deputy Minister of Commerce Brigadier-General Aung Tun, and Bangladeshi delegation, headed by Secretary of Commerce Feroz Ahmed, at the third meeting of the commission.
That discussions covered extended export of Myanmar's products especially agricultural produces.
In February this year, businessmen of Myanmar's Federation of Chambers of Commerce and Industry and Bangladesh Bank delegation also met in Yangon to seek ways of enhancing economic and trade cooperation between the two countries.
Noting that it was encouraging its private sector to export rice to Bangladesh to supplement its need, the Myanmar side said it was also undertaking many important communication linkages in the western Rakhine state, adding that transport facility and smooth flow of commodity will improve soon between the two countries through the state.
The Myanmar side proposed to establish banking arrangements between the two countries to promote trade, stressing the need for Myanmar's Investment and Commercial Bank and the Myanmar Foreign Trade Bank to have corresponding banks in Bangladesh for effective and reliable payments related to trade transactions.
At that meeting, the Bangladesh side also emphasized the need to promote the bilateral trade and change the trend of border trade to normal trade, disclosing that Bangladesh wants to invest in Myanmar's agriculture and livestock breeding sectors through bilateral cooperation.
Meanwhile, Myanmar has planned to add one more border trade point in the Rakhine state linking Bangladesh, according to the Directorate of Border Trade.
Tender for building the infrastructure of the new border trade point planned at Taungphyo township has been called for and the Taungphyo border trade point will be Myanmar's third with Bangladesh after Sittway and Maungtaw in the same state.
Currently, Myanmar and Bangladesh are engaged more in border trade than in normal trade. Myanmar exports to Bangladesh marine products, beans and pulses, and kitchen crops, while it imports from Bangladesh pharmaceuticals, ceramic, cotton fabric, raw jute, kitchenware and cosmetic.
The two countries formally opened border trade in 1994.
Bilateral trade between Myanmar and Bangladesh now stands at 140 million U.S. dollars and a target of 500 million dollars for the next fiscal year 2009-2010 is being strived.
Official statistics show that Myanmar exported 23,000 tons of marine products to Bangladesh annually, standing as Bangladesh's fifth largest marine products importing country out of 30.
During a visit to Dhaka by Vice-Chairman of the State Peace and Development Council Vice Senior-General Maung Aye in early October last year, the two sides decided on purchase of 100,000 tons of rice from Myanmar by Bangladesh, import of pharmaceuticals from Bangladesh, construction of a 25-kilometer trans-border road and delimitation of maritime boundary.
An agreement on avoidance of double taxation was also signed during the Myanmar leader's Bangladesh trip.
Myanmar, Bangladesh seek promotion of trade _English_Xinhua