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Exports to Myanmar surge 111%
In the first 10 months of the year, Viet Nam earned US$60 million from exports to Myanmar, up nearly 111 per cent against the same period last year, according to Myanmar's Customs Department.
With the high surge, Viet Nam became Myanmar's 13 largest exporter behind Singapore, China, Thailand, South Korea, Japan, Indonesia, Malaysia, India, the US, German, Sweden and Australia.
During the period, two-way trade between Viet Nam and Myanmar hit $125 million, a 46.6 per cent increase year-on-year.
Viet Nam's key exports to Myanmar included steel, garment and textile materials and accessories, medicines and medical equipment, construction materials, electronic appliances, tubes and tires, machine spare parts, chemical fertilisers and machinery components.
It mainly imported agricultural, forest and seafood products from Myanmar, totalling $65 million and becoming Myanmar's 11th largest importer in the first 10 months.
Last year, the country earned $47 million from exports to Myanmar and two-way trade turnover in 2010 increased 60 per cent compared to the previous year.
Viet Nam expects to increase export to Myanmar thanks to advantages in geography and good economic co-operation between the two countries. Myanmar is also a potential market with a population of 54 million and a wide demand.
Vietnamese relevant authorities have so far also completed a handbook of information related to Myanmar's market, demand, foreign trade policies, tax, transport, distribution network and legal procedures to ease Vietnamese exporters in shipping goods to the market.
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