News Content
Shipping line a welcome fillip for Myanmar trade
A new coastal shipping line is scheduled to operate from March between Chittagong, Mongla, Narayanganj and Teknaf ports in Bangladesh and Maungtaw, Pathein, Sittwe and Yangon in Myanmar.
The service will provide valuable support to the target set by the recent Joint Trade Commission (JTC) meeting in Nay Pyi Taw, to increase annual bilateral trade between Bangladesh and Myanmar to $500m.
Bangladesh’s annual trade with its neighbour currently stands at around $100m. This is far behind countries such as China and Thailand and represents only 0.2% of Myanmar’s total trade.
The JTC talks this month have given a welcome boost to bilateral relations and provide a good platform to build mutual trade links in future.
Bangladeshi businesses and industries in sectors such as cement, electric cables and pharmaceuticals are already achieving laudable success in growing exports to Myanmar. With its newly opened up economy proving highly attractive to international investors, there is considerable scope for to grow mutual trade and co-operation much further.
The new shipping service adds to the welcome move by Biman Bangladesh airlines last December, to re-establish the Dhaka-Yangon air route.
Further talks are still needed to reduce trade barriers in the long term and improve overland communication links to take advantage of geographical closeness. Both countries will benefit from such talks as they may not only increase trade and investment but can also reduce dependence on other countries.
Source: Dhaka Tribune
The service will provide valuable support to the target set by the recent Joint Trade Commission (JTC) meeting in Nay Pyi Taw, to increase annual bilateral trade between Bangladesh and Myanmar to $500m.
Bangladesh’s annual trade with its neighbour currently stands at around $100m. This is far behind countries such as China and Thailand and represents only 0.2% of Myanmar’s total trade.
The JTC talks this month have given a welcome boost to bilateral relations and provide a good platform to build mutual trade links in future.
Bangladeshi businesses and industries in sectors such as cement, electric cables and pharmaceuticals are already achieving laudable success in growing exports to Myanmar. With its newly opened up economy proving highly attractive to international investors, there is considerable scope for to grow mutual trade and co-operation much further.
The new shipping service adds to the welcome move by Biman Bangladesh airlines last December, to re-establish the Dhaka-Yangon air route.
Further talks are still needed to reduce trade barriers in the long term and improve overland communication links to take advantage of geographical closeness. Both countries will benefit from such talks as they may not only increase trade and investment but can also reduce dependence on other countries.
Source: Dhaka Tribune
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