BORDER trade between Myanmar and Bangladesh surged nearly 30 percent compared to this time last year, amounting to US$8.578 million for the first three quarters of the 2008-09 fiscal year, according to trade statistics.

There are two trade routes, at Sittwe and Maungdaw, for the Myanmar-Bangladesh border trade, Maungdaw being the more important. Statistics from the Maungdaw trade office say the volume of trade between April 1 and December 31 2008 was more than $2.293 million up on the same period in 2007.

An official from the same department said most of this trade reflected exports from the Myanmar side. “About $7.573 million out of the whole volume was exported by Myanmar side and the rest, $1.005 million, was imports from Bangladesh. Myanmar is enjoying a trade surplus,” he said.

“The trade figure for the fiscal year 2007-2008 as with whole was $11 million. But the trade department hopes to reach $21 million for the current fiscal year 2008-2009, and has slackened some rules and regulations in order to achieve this figure,” said the official.

Fresh and sea water fish and prawns, timber products, agro-based products, tamarics, dried fish, fruit, spices and traditional medicines are the main items of Myanmar exports and cement, fertiliser, human hair and other consumer products are imported from Bangladeshi.

Fisheries products form the biggest element of Myanmar exports to Bangladesh through border channels, a border merchant told The Myanmar Times.

“Now the Myanmar authorities are facilitating the easy issuance of one-day and one-week visas to go Bangladesh, which is one reason why trade surged, I think,” said one trader, adding that the trade department was issuing import licenses easily online and encouraging Bangladesh to export to Myanmar.