Myanmar traders sign million dollars export MoU in China-ASEAN expo

Myanmar businessmen have signed some memorandums of understanding (MoU) for exporting over 80 million U.S. dollars' goods to China during the recent China-ASEAN expo heldin Nanning, capital of Southwest China' Guangxi Zhuang Autonomous Region, the Union of Myanmar Chambers of Commerce and Industry (UMFCCI) disclosed Wednesday.

Under the MoU, Myanmar is to export to China 51 million dollars' forestry products, 30 million dollars' marine products and 1.6 million dollars' beans and sesame, the sources said.

During the expo late last month, Chinese businessmen also bought 2.5 million-dollar car spare parts and agricultural machinery produced from Myanmar's Hlaing Tharya industrial zone, it said.

Meanwhile, Myanmar won the best exhibitor award and best trade visitor organizer award in the expo from Oct. 20 to 24 attended by over 200 businessmen of 83 companies from the country.

According to the UMFCCI, Myanmar also won some investment MoU from Chinese companies during the China-ASEAN expo. These prospective investments include those in the sectors of mining, hydropower, agriculture, value-added wood processing and gem production.

Myanmar entrepreneurs, who attended the expo, were from such sectors as agriculture, fishery, industry, manufacturing, gems, traditional handicrafts, forestry and hotel and tourism.

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.

Source:Xinhua