Myanmar to add another border trade zone in N Shan State

14:59, October 15, 2009      

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Myanmar will add one more border trade zone in Kokang region, in the country's northern Shan State,to facilitate trading between the region and neighboring China, sources with the Ministry of Border Area and National Races Development said on Thursday.

The new border trade zone to be built in Yan Lone Chai township, which is about 12.8 kilometers away from the Kokang capital of Laukkai, will be another after Chinshwehaw.

Once the Yan Lone Chai border trade zone is completed, it will help enhance the economic development of Laukkai and the Kokang asa whole as the border trade zone can be accessible by direct road link with Lashio, Kuttkai and Theini townships, it said.

With an area of 5,200 square-kilometers, Kokang, bordering China's Zhenkang, Gengma, Mengding and Longling areas, has a population of about 150,000.

Myanmar has five border trade points with China, namely Muse, Lwejei, Laizar, Chinshwehaw and Kambaiti which were established since 1998.

Myanmar-China border trade fair has been held annually and alternately in the two countries' border town of Muse and Ruili since 2001 and the last event was in Muse in December 2008.

Ruili remains a main border trade point of China with its border trade volume alone accounting for 70 percent of Yunnan province's border trade with neighboring countries.

Myanmar established the 150-hectare Muse border trade zone, the first largest of its kind in the country, and transformation of its border trade with China into normal trade has been underway since early 2005.

Main items that Yunnan imports from Myanmar are agricultural products, aquatic products, minerals, rubber and its products, while main items that Yunnan exports to Myanmar are electric and machinery, textile, chemicals, steel, daily-used products, pharmaceuticals and so on.

According to Chinese official statistics, China-Myanmar bilateral trade amounted to 2.626 billion U.S. dollars in 2008, up 26.4 percent. Of the total, China's export to Myanmar took 1.978 billion dollars.

Up to the end of 2008, China's contracted investment in Myanmar reached 1.331 billion dollars, of which that in mining, electric power and oil and gas respectively took 866 million dollars, 281 million dollars and 124 million dollars.

China now stands the 4th in Myanmar's foreign investment line-up.

Source:Xinhua
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