Myanmar signed MOU with Yunnan to promote bilateral border trade

Myanmar signed MOU with Kunming government of Yunnan Province, China to promote trade cooperation between two countries on 21^st April. Under the agreement, Myanmar will export agriculture and livestock products legally to China and will have to import construction materials, farm implements and fertilizers from China through Muse border trade zone. Rice will be priority to export. The Agriculture, Livestock and Fishery Development Committee will take charge of this agreement and it will take effect in May. According to the MoU, trade contracts based on barter system will be signed monthly. China assigned a company to make a list of export and import goods and Myanmar assigned Agriculture and Livestock Development Committee to make a list of export and import goods according to the MoU. China currently imports commodities based on a quota system. Myanmar’s official export quota, set in 2016, is 100,000 tonnes of rice. According to data from the MOC, over 50 percent of Myanmar-produced rice is sold to China via the border.

Reference- myanmartimes