Myanmar entrepreneurs to join trade exhibitions in China

(Agencies)
Updated: 2009-10-18 21:13

YANGON: Myanmar industrial entrepreneurs started on Sunday to head for joining some trade exhibitions and business matching to be held respectively in China over the second half of this month, sources with the industrial zones said.

Participated by entrepreneurs from Yangon and Monywa industrial zones, these exhibitions include China Guangzhou Electronic and Electrical Exhibition, China-ASEAN Expo Trade Fair, China Shenzhen International Industrial Fair and Macao International Trade and Investment Fair, the sources said.

Cooperation with countries in the region in the industrial sector will be discussed during their business trip, it added.

Meanwhile, the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and Hong Kong Trade Development Council (HTDC) met in Yangon in September to seek cooperation in boosting bilateral trade.

Representatives of the HTDC paid a four-day visit to Myanmar from September 7 to 10 to observe opportunities for investment in the country, meeting also with members of the Myanmar Garment Manufactures' Association (MGMA).

According to Chinese official statistics, China-Myanmar bilateral trade amounted to 2.626 billion dollars in 2008, up 26.4 percent. Of the total, China's export to Myanmar took 1.978 billion dollars.

Up to May this year, China's contracted investment in Myanmar reached 1.331 billion dollars, of which that in mining, electric power and oil and gas took 866 million dollars, 281 million dollars and 124 million dollars, respectively.

China has risen from the 6th position to the 4th in Myanmar's foreign investment line-up.

Regionally, bilateral trade between Myanmar and the Hong Kong Special Administrative Region (SAR) hit 701 million US dollars in the March-ended fiscal year of 2008-09, according to Myanmar's monthly economic indicators.

Of the total, Myanmar's export to the Hong Kong SAR amounted to 668.68 million dollars, while its import from HKSAR took 32.9 million dollars, enjoying a trade surplus of 635.78 million dollars.

The HKSAR's investment in Myanmar was registered at 504.218 million dollars in 31 projects as of May this year, standing the 6th largest foreign investor in the country after Thailand, Britain, Singapore, Chinese mainland and Malaysia, the Myanmar statistics show.