U Aung/Xinhua
Bilateral trade between US and Myanmar for this fiscal year to December is worth only $103 million, according to the Ministry of Commerce.
“Trade is down this year, but with some effort, we can reach the same trade volume as last fiscal year. More trade can be carried out due to the release of some trade restrictions by the US,” said U Win Myint, director at the Ministry of Commerce.
Last fiscal year, trade was worth more than $594 million, in which exports were worth about $51 million and imports $444 million.
The trade value for this fiscal year 2015-16 is worth $38 million for exports and $65 million for imports.
Mainly agriculture products, marine products and industrial products are exported to the US. Myanmar is currently exporting beans, sesame seeds and fish, U Win Myint said.
Motor vehicles spare parts, medicines, fertilisers and electrical products are mainly imported from the US.
From: Myanmar Business Today