Myanmar seeks to expand global market shares in versatile sectors

The Ministry of Commerce (MoC) is making efforts to enhance productivity and export goods from various sectors, particularly crops and vegetables, fishery products, jade, fertilizers, fuel, and animal products, according to statistics and statements released by the ministry.
The total value of Myanmar’s exports surged by US$221 million in the first week of December 2023 through both shipment and border trade routes, as reported. With the current months being the flourishing seasons for agricultural produce, the ministry anticipates increased exports in this sector. During the week, Myanmar shipped various crops, beans and pulses, as well as other agricultural produce like rice, broken rice, black gram, green gram, cowpea, kidney bean, peanut, sesame, corn, rubber, fruits, konjac, dried ginger, cashew nut, chili, betel nut, and tamarinds.
Fishery product exports also amounted to over US$20 million within a week, primarily destined for China, Malaysia, Viet Nam, South Korea, Japan, Australia, Chinese Taipei, Singapore, Saudi Arabia, the United States, Canada, Oman, the United Arab Emirates, the UK, Lebanon, Hong Kong, and Brazil through both shipment and aviation transport. Additionally, fishery products like fish, dried fish meal, and dried fish are transported through Kawthoung, Myeik, Mawtaung, and Myawady border trade posts.
The report highlights that, aside from private sector exports, 3,228 kilogrammes of jade sold by gems emporiums were transported to China from the public sector. Furthermore, the One-Stop Service Centre of the Myanma Gems Enterprise sells value-added jade ornaments such as bracelets, beads, and hand chains, exporting them to the Chinese market via air transport. With earnings from rubber exports permitted for reinvestment in essential domestic goods like fertilizers and fuel, aiming to boost commodity flows and increase profits for exporters, rubber exports doubled in early December compared to November, according to statistics.
Similarly, exports of rawhides and leather, finished wood products, and other industrial products such as sugar and CMP garment products also saw an increase. The Ministry of Commerce urged relevant departments, associations, and entrepreneurs from both private and public sectors to collaborate in boosting the country’s trade sector, increasing economic ties with partner countries, expanding the global market, and exporting more items. — MNA/ TMT