China-Myanmar border trade reaches USD 2.7 billion, up 23%

“In the 11 months from April 1, 2022 to March 3, 2023, the trade value via Myanmar and China border gates reached 2.7 billion US dollars, a yearly increase of 23%,” said U Aung Naing Oo, Myanmar Union Minister for Commerce.

Aung Naing Oo said this at the ongoing fourth Myanmar (Lashio)-China (Lincang) border trade fair that opened in Myanmar's capital Nay Pyi Taw on May 25, and the minister added that Myanmar-China trade mostly takes place in the border areas.

The fourth Myanmar-China border trade fair opens in Nay Pyi Taw on May 25. Photo/Yunnan Daily

Aung Naing Oo noted the trade fair displays the results of business cooperation between Myanmar and China, promoting bilateral trade investment, deepening cultural exchanges and creating jobs for the people. “Myanmar-China companies should make full use of the fair to optimize trade services.”

Jointly held by the People's Government of Lincang City, the Yunnan Sub-Council of China Council for the Promotion of International Trade, and the Trade Promotion Department of Myanmar Ministry of Commerce, the border trade fair aims to serve the Belt and Road Initiative (BRI), the China-Myanmar Economic Corridor and the China-Myanmar New Passage to the Indian Ocean.

“The fourth Myanmar-China border trade fair reflects the brotherly Paukphaw friendship, promoting bilateral trade and economic cooperation and benefiting people in the two countries," said U Win Shein Union, Myanmar Minister for Planning and Finance.

U Win Shein added that Myanmar has agreed to jointly build the Myanmar-China Economic Corridor, carry out the BRI projects in a cooperative manner, and set up economic cooperation zones in the Myanmar-China border areas.

Reporting by Guo Yao and Zhang Yinglin (Yunnan Daily); Trans-editing by Wang Shixue