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Vietnam, Myanmar trade turnover up 21.3 percent this year
Trade turnover between Vietnam and Myanmar this year will be about 130 million USD, according to the Vietnam General Department of Customs.
By the end of November, trade turnover between the two sides was 118 million USD, a year-on-year increase of 21.3 percent.
Of this, Vietnam ’s exports to Myanmar were 28 million USD, an increase of 28.4 percent. This is expected to grow to 32 million USD next year.
Vietnam ’s imports amounted to 90 million USD, up 19.3 percent over last year. This includes timber and forest products, agricultural and aquaculture products, and sewing thread.
The country is now the 11 th largest importer from Myanmar .
Vietnam is the 15 th biggest exporter to Myanmar , including steel which for the first 11 months of the year reached 4 million USD.
Other major exports to Myanmar include electrical products, medicine, medical equipment, building material, mosquito nets, chemicals, office machines, cosmetics, plastic products and pesticides.
The Vietnam Trade Office in Myanmar said that Vietnam should export new products next year, such as fertiliser, farming tools and processing machinery, and forestry and aquaculture products.
The office said Vietnam has many export advantages in trading with Myanmar . These include good relations, cheap products and quality.
However, it said the Myanmar Government still subsidises some sectors, such as electricity, fresh water and petrol.
Import-export procedures are also complicated. After signing contracts, companies have to wait four to six months for the completion of administrative procedures.
vna
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