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Myanmar-ASEAN trade hits $9.9B in nine months

Myanmar-ASEAN trade hits $9.9B in nine months

Trade between Myanmar and other ASEAN countries topped $9.9 billion in the first nine months of Myanmar fiscal year 2019-2020, Xinhua News Agency reported, citing data from the Myanmar Ministry of Commerce.

Between October 1 and June 31, Myanmar exported more than $3.6 billion worth of goods to ASEAN countries and imported over $6.3 billion.

Thailand, Singapore and Malaysia topped the list of Myanmar trade partners in ASEAN, logging bilateral trade volumes of $3.9 billion, $3.3 billion and $1 billion respectively, ministry data show.

Next on the list were Indonesia ($936.5 million), Vietnam ($609.47 million), the Philippines ($122.74 million), Cambodia ($25.7 million), Laos ($1.3 million) and Brunei ($0.31 million).

Myanmar mainly exported agricultural and fishery products, minerals and manufacturing goods and imported capital goods, intermediate goods and consumer goods, Xinhua reported.

Myanmar exported $17.07 million worth of goods to Cambodia last year, according to the UN Comtrade database on international trade. The World Bank reported that Myanmar exported $8.33 million in 2018 and imported $2.54 million.

At a meeting with Minister of Foreign Affairs and International Cooperation Prak Sokhonn in October, Myanmar ambassador to Cambodia and former ambassador to North Korea (2015-2019) Thit Linn Ohn discussed diplomatic relations and boosting bilateral trade and investment.

Ministry undersecretary of state Tuot Panha told media that the ambassador had shown a keen interest in importing agricultural products, especially Kampot pepper.

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