Narinjara news

Burma’s trade in a week at Maungdaw point tells a story of its own

Maungdaw, June 24:
The volume of export from Burma to Bangladesh at Kyigan-braung in Arakan State between June 14th and 20th was recorded at US $ 45,353.085 more than the volume of import from Bangladesh to Burma. An official of the Nasaka border security forces Headquarters at Kyigan-brang, Maungdaw Township of Arakan State, close to the Bangladesh border from where a considerable volume of ‘legal’ border trade is carried out everyday told to our correspondent.

A total of US $ 51,799.885 worth of goods was exported to Bangladesh while the import stood at US $ 6,446.80 within the week.

The items of export included among others lungis ($ 2,158.50), men’s footwear ($ 1,319.595), leather shoes ($325), women’s footwear ($ 6,071.26), Tiger brand beer ($ 4,750), nylon fishing net ($535.38), Eingmata rice ($9,200), alcoholic beverages ($3,616.85), children’s footwear ($2,446), fairy lights ($1500), umbrella ($536), dried fish ($2,200), children’s umbrella ($330), fancy umbrella ($585.20), mangos ($1,584), groundnut oil ($270), fabric ($1,066.60), and three wheeler parts ($1,232.50).

The import from Bangladesh during the period included: Portland cement, kilo 34,300 ($4321.80) and chemical fertilizer, kilo 52,750 ($2,125).

In view of the higher volume and worth of export than import in just a week which shows to be promising for the Burmese side at Maungdaw Teknaf border point, the Burmese junta officials at Maungdaw have expressed their satisfaction at the prospect of higher earning through export from their side in the coming year and expressed their willingness to keep the border trade open for the ‘greater benefit’ of the Burmese overall export, the official confirmed.

The latest unofficial black market rate of the US dollar stands at kyat 900 and the Bangladeshi taka 14.45 kyat. The unofficial rate of exchange is seen as conducive to the growth of Burmese export volume, a renowned trader in the town said. He also added that for a ready market of 120 million people of Bangladesh a lucrative black market exists for local agricultural products and Chinese consumer goods including electronics, which sell at throwaway prices on the Burmese side.

“The low exchange rate for the kyat coupled with a strong syndicate of smugglers on both sides of the border make it possible for the rampant smuggling to thrive that deprives the Bangladeshi government of a large chunk of earning through tax and duties,” commented a disgruntled Bangladeshi customs official without giving details of the nature of smuggling at Teknaf.

A Bangladeshi trader at Teknaf told our correspondent that the illegal under-invoicing at Maungdaw on Arakan side of goods of Burmese and Chinese origin that is a usual practice in the trade ' though deprive the Bangladeshi authority from legal earnings in tariffs is also responsible for the lower prices of goods imported from Burma. ’ Time someone in the government of Bangladesh pricked their ears. #