Myanmar News Updated
Highlight Myanmar News
Myanmar and China to Launch Trade System in May
01/05/2019
AUTHOR: PAING HTET (MMK)
Myanmar and China’s Kunming government will launch a new trade system in May in accordance with MoU under which both sides will exchange goods.
“We have signed the MoU; we export agricultural products to Yunnan Province which also exports consumers’ products to Myanmar. Therefore, we will implement a trade system. For that, we have a lot of things to do. First, we will focus on rice through border gates,” said U Ye Min Aung, President of Myanmar Rice Federation.
With a new trade system, Myanmar can export agricultural products to Yunnan Province through Mu-se border trade route and import construction products, agricultural use machines, fertilizers and consumer products, equal to the value of Myanmar export to Yunnan.
“It would be better if both sides can make things right based on the current market situation,” said U Aye Lwin, a rice trader.
The Union of Myanmar Federation of Chamber of Commerce and Industry and its member associations will list the number of exports that they want to exchange.
Both sides will meet again in May to negotiate the volume of the trade and prices. By implementing this trade system, both sides are expecting to promote more border trade.
Related News
-
CBM Allows WeChat Trial in Selected Areas
AUTHOR: ZIN THU TUN With the increased number of Chinese tourists coming to Myanmar, Central Bank of Myanmar is working to make payments easier for tourists in order to encourage more spending. To accomplish this, they have decided to allow the widely used WeChat Pay in selected areas for a three-month trial.
Read More09/04/2019 -
MoneyGram Launches Money Transfer Send Service outside Myanmar
AUTHOR: TIN MG OO New service marks Increasing Financial Openness with first sending service from Myanmar by MoneyGram. MoneyGram and Myanmar Citizens Bank (MCB), are proud to announce an agreement to provide money transfer send services at every MCB bank location in Myanmar. Consumers will be able to send money from 42 branches to any MoneyGram location in more than 200 countries and territories worldwide.
Read More02/04/2019 -
Myanmar Meets with China to Raise Rice Import Quota
AUTHOR: SWE LEI MON Myanmar will sign an MoU with China for rice trade, the request to increase the rice import quota to China by as much as 400,000 tons of rice per year, according to the statement of Myanmar Rice Federation. The delegation led by Union Minister for Planning and Finance, U Soe Win, and officials from Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and Myanmar Rice Federation (MRF) attended the 2nd China Myanmar Economic Corridor Forum held in Yunnan, China from February 18 to 23.
Read More12/03/2019