Bilateral Trade: Over 12 mln USD earned via KanyinChaung trade zone

The Kanyin Chaung Economic Zone conducting border trades from Rakhine state to Bangladesh has earned the trade value worth over 12 million USD from April 2022 to the end of June.

State Economic Minister, Chairman of KanyinChaung Economic Zone Management Committee shared the trade situations after the discussion of enhancing border trades between the two entities from Sittwe by the state officials and Bangladesh ambassador during last June.

Minister for Economic Affairs, Rakhine State Government, San Shwe Maung said "At present, we are exporting the products from Kanyin Chaung Economic Zone to Bangladesh. We mainly export freshwater fishes produced from Yangon, Ayeyarwaddy and Bago regions while importing the other local products from central part of Myanmar and Rakhin state.  12.47 million USD has been earned from April 2022 to the end of June. Last month, Bangladesh ambassador came for enhancing bilateral trades. We have discussed to conduct border trades removing the restricted items. We are also strictly monitoring the shipping vessels in line with the COVID-19 rules and regulations."

He said this is the country’s one and only border trade zone using dollar payment system for trading and the amount of export volume outnumbers Bangladesh while Kanyin Chaung is useful route in case of water depth and even 5000 tons of vessels can access anytime of the year.