Myanmar-China border trade fair launched in Muse

A Myanmar-China border trade fair was launched in Myanmar's Muse 105th Mile Border Trade Zone Friday, aimed at enchanting the bilateral trade between the two countries.

With a total of 230 booths from the two sides, the three-day fair was inaugurated by Vice Governor of Yunnan province of China Gu Chaoxi and Union Myanmar Deputy Minister of Commerce Dr. Pwint Hsan.

Other surrounding countries such as India, Thailand, Laos and Bangladesh also joined the fair.

The two countries' joint committee for border trade will meet at the fair with a briefing on investment in Myanmar.

Myanmar-China border trade fair is held annually on alternate base as the last was held in Ruili, southwest China's Yunnan province linking Myanmar's Muse.

According to China site's official figures, Myanmar-China bilateral trade hit 4.44 billion U.S. dollars in 2010, a 53.2- percent increase over the previous year, with China standing as the second largest trading partner of Myanmar.

The two countries' border trade amounted to 1.054 million dollars in the first seven months (April-November) of 2010-11, accounting for 83 percent of Myanmar's border trade, according to the Myanmar's official statistics.

Myanmar's export to China through border trade stood at 567 million dollars, while its import from the neighbor was registered at 486 million dollars, according to the commerce ministry.

In 2010, China's investment in Myanmar also rose rapidly, garnering the top place for the first time in Myanmar's foreign investment line-up with 12.3 billion dollars.

There are 170 Chinese companies investing in Myanmar according to the figures.

Source: Xinhua

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