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Fri, 03/22/2024 - 10:37
Submitted by nhathong on Thu, 12/18/2008 - 11:30
Trade turnover between Vietnam and Myanmar this year will be about US$130 million, according to the Vietnam General Department of Customs.

By the end of November, trade turnover between the two sides was US$118 million, a year-on-year increase of 21.3 percent.

Of this, Vietnam’s exports to Myanmar were US$28 million, an increase of 28.4 percent. This is expected to grow to US$32 million next year.

Vietnam’s imports amounted to US$90 million, 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 11th largest importer from Myanmar.

Vietnam is the 15th biggest exporter to Myanmar, especially steel which reached US$4 million in the first 11 months of the year.

Other major exports to Myanmar include electrical products, medicine, medical equipment, building materials, 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 fertilizer, farming tools and processing machinery, and forestry and aquaculture products.

The office said Vietnam had many export advantages in trading with Myanmar. These included good relations, cheap products and quality.

However, it said the Myanmar Government still subsidized some sectors, such as electricity, fresh water and petrol.

Import-export procedures were also complicated. After signing contracts, companies had to wait four-to-six months for the completion of administrative procedures.

VOVNews/VNS

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