Traders and merchants in Rakhine State told Mizzima recently
that Myanmar-Bangladesh cross-border trade is in decline. They said that
bilateral trade decreased by almost half in the main trade centers of
Sittwe and Maungdaw over the last year due to a drop in fishery products
and the general instability caused by the Rakhine-Rohingya conflict.
“Sittwe-Bangladesh border trade was US$15.336 million in the 2011-12
fiscal year, but it decreased to $7.250 million in 2012-13,” a
spokesperson for the Sittwe border trade center said. “This was due to a
scarcity of fishery products and regional instability.
“I cannot see much hope that bilateral trade will be restored to its old levels,” he said, adding that import and exports through Maungdaw had also fallen.
“Exports [from Maungdaw] were valued at $7.831 million in 2011-12. This year it’s $5.385 million,” he said. “Imports were $0.692, but have decreased to $0.531.”
Five companies trade across the Bangladeshi border via Maungdaw border trade center, he said. The main exports from Myanmar are fish products, prawns, slippers and cosmetics, while most frequent imports include cement, water pots and water distillation machines.
“The ethnic conflict in the Rakhine region is not the only reason for the decline,” said Nyi Chay, a representative of one of the five trading companies in Sittwe. “It is also because we do not have enough goods to export. Plums and tangerines are becoming scarce, and these are some of Sittwe’s main produce.”
Nyi Chay said he expected better cross-border business after tariffs were lifted on 152 different products on March 1, but such trade has not come to fruition.
“I cannot see much hope that bilateral trade will be restored to its old levels,” he said, adding that import and exports through Maungdaw had also fallen.
“Exports [from Maungdaw] were valued at $7.831 million in 2011-12. This year it’s $5.385 million,” he said. “Imports were $0.692, but have decreased to $0.531.”
Five companies trade across the Bangladeshi border via Maungdaw border trade center, he said. The main exports from Myanmar are fish products, prawns, slippers and cosmetics, while most frequent imports include cement, water pots and water distillation machines.
“The ethnic conflict in the Rakhine region is not the only reason for the decline,” said Nyi Chay, a representative of one of the five trading companies in Sittwe. “It is also because we do not have enough goods to export. Plums and tangerines are becoming scarce, and these are some of Sittwe’s main produce.”
Nyi Chay said he expected better cross-border business after tariffs were lifted on 152 different products on March 1, but such trade has not come to fruition.
source: Mizzima
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