12th Myanmar-China trade fair opened in Myanmar

MUSE, Myanmar -- The three-day 12th Myanmar-China Border Trade Fair opened in Myanmar's Muse 105th Mile Border Trade Zone in Northern Shan State Sunday.

With about 218 standard booths, including 123 booths from the Chinese side, 93 booths from the Myanmar side, and two booths from Thailand, the exhibitors mainly display agricultural products, marine products, gems and jade, traditional handicrafts, traditional medicine, furniture, electronics and household goods.

At the opening ceremony, Myanmar Deputy Minister of Commerce?Pwint Hsan said the Muse 105th Mile Trade Zone is one of Myanmar's most important border crossings and accounts for 70 percent of the trade volume in border trade with neighboring countries.

The Myanmar government pays attention to border region development and border trade and economic cooperation with China.

Gao Shuxun, vice-governor of China's Yunnan province, which shares border with Myanmar, said Myanmar is the largest foreign trade partner of his province. In 2011, total import and export between Yunnan and Myanmar reached $2.071 billion, increasing by 17.8 percent from the previous year and accounting for more than 30 percent of the total China-Myanmar trade.

From January to October 2012, two-way trade stood at $1.722 billion, up 2.2 percent year-on-year, and the trade volume this year is expected to exceed last year.

The China-Myanmar Border Trade Fair is an annual event held on a rotating basis in Muse of Myanmar and Ruili of Yunnan since 2001 and has become an important link between China and Myanmar in trade and economic exchanges and a cooperation platform for economic development.

According to Chinese official statistics, trade between China and Myanmar totaled $6.5 billion in 2011, up 46.3 percent year-on-year. In the first nine months this year, the bilateral trade amounted to $5 billion, up 4.5 percent from a year earlier.

According to Myanmar statistics, China is the top investor of Myanmar with a total investment of $14.14 billion up to August 2012.