Vietnam’s exports to Myanmar surge 111pct

In the first 10 months of the year, Vietnam earned US$60 million from exports to Myanmar, up nearly 111 percent against the same period last year, according to Myanmar’s Customs Department.
With the high surge, Vietnam became Myanmar’s 13 largest exporter behind Singapore, China, Thailand, the Republic of Korea, Japan, Indonesia, Malaysia, India, the United States, German, Sweden and Australia, reports Vietnam News Agency (VNA).

During the period, two-way trade between Vietnam and Myanmar hit US$125 million, a 46.6 percent increase year-on-year.

Vietnam’s key exports to Myanmar included steel, garment and textile materials and accessories, medicines and medical equipment, construction materials, electronic appliances, tubes and tires, machine spare parts, chemical fertilisers and machinery components.

It mainly imported agricultural, forest and seafood products from Myanmar, totalling US$65 million and becoming Myanmar’s 11th largest importer in the first 10 months.

Last year, the country earned US$47 million from exports to Myanmar and two-way trade in 2010 increased 60 percent compared to the previous year.

Vietnam expects to increase export to Myanmar thanks to advantages in geography and good economic co-operation between the two countries. Myanmar is also a promising market with a population of 54 million and a wide demand.

Relevant Vietnamese authorities have so far also completed a handbook of information related to Myanmar’s market, demand, foreign trade policies, tax, transport, distribution network and legal procedures to ease Vietnamese exporters in shipping goods to the market.
Bernama

Tags: Vietnam export turnover, Vietnam exports, Vietnam exports 2011

Posted by VBN on Nov 18 2011. Filed under Import-Export. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry