Myanmar ships $1.615 mln worth of fishery products to Bangladesh in past four weeks

 

MYANMAR has conveyed US$2.261 million-valued fishery products and other goods to Bangladesh through two crossborder posts from 13 October. The export of fishery products amounted to $1.615 million in past four weeks.

Two border checkpoints (Sittway-Shwemingan Port and Maungtaw-Kanyinchaung Port), which have been suspended for three months, was reopened on 13 October following the health prevention measures for COVID-19. As of 8 November, Myanmar delivered 4,841 tonnes of goods to Bangladesh through those two border posts, generating an export income of $2.261 million. Of them, the exports of fishery products were worth $1.615 million. The value of fishery products export constitutes 72.87 per cent of overall export earning, whereas other goods accounted for 27.13 per cent.

Rohu is processed in Yangon and they are sent to Sittway border post by coldstorage trucks or ships after pre-shipment inspection. Then, they are shipped to Bangladesh by motorboats. The customs authorities visually inspect the rohu vessels in Yangon to separate the illicit from legitimate goods before sending them to the border posts, causing delay and damage to quality.

According to the meeting result decided by Rakhine State Government on 5 November, the traders are allowed to sell the seafood directly at the Bangladesh border post, in line with the procedures of the related ministries. The state government official urged to focus on security to find illicit goods.

The direct export system will be implemented soon to avoid unnecessary delay and quality degradation, Rakhine State Fisheries Department stated.

“If the equipment developed for the Customs to find drugs and other illicit goods are used in screening, it will secure the quality of the product. The detection technology will facilitate the Customs clearance procedures. It would be better if the government provides technical assistance. The Fisheries Department is satisfied with the export income in the past four weeks,” said U Thet Oo, head of the department.

The exports of fishery products to Bangladesh generated $6.318 million from 7,089 tonnes of seafood in the financial year 2019-2020. The trade flow plummeted drastically owing to the impacts triggered by the COVID-19 pandemic in the 2020-2021FY. Myanmar earned only $4.76 million by exporting 5,010 tonnes of fishery products last year. 

Myanmar levied a two per cent tax on exported goods to Bangladesh. Additionally, the registration of a vessel is charged US$50 and the weighted average price for the fishery is set at five dollars per tonne according to the Marine Fisheries Law. The direct export system will facilitate the trade flow and bring about more benefits to the exporters and the breeders.

The detection technology is crucial in Customs clearance procedures both for the direct export to Bangladesh’s Port and the export via Myanmar’s two border posts to improve the sustainable border trade.

Nyein Thu (MNA)/GNLM

#TheGlobalNewLightOfMyanmar