Myanmar, China sign nine trading agreements

27 May 2023

DMG Newsroom
27 May 2023, Sittwe
 
The Myanmar military regime and China have signed nine trading agreements, said the Myanmar Trade Promotion Department of the Ministry of Commerce.
 
According to the agreements, the two neighbors will trade in six categories of products including; agricultural produce, foodstuffs, soft drinks and beverages, pharmaceuticals, electronics and electric vehicles.
 
Seventeen companies from the two countries signed the agreements.
 
“It is good that the new trading agreements are signed. We are already trading with China. We export agricultural products to China, and import electronics, solar power equipment and many other items,” said trader Dr. Soe Tun.
 
China will also buy rice and break it under the new agreements. A rice exporter engaged in border trade said the price of broken rice and low-quality rice may go up because of the agreements.
 
“China usually buys more broken rice than regular rice. So, broken rice may fetch good prices. There will also be an increased demand for low-quality rice used in making snacks,” he said.
 
It is not immediately clear what other agricultural products are included in the agreement for trading besides rice.
 
The local government of Lincang town in China’s Yunnan Province held an economic expo in Naypyitaw from May 25-28, and agreements were signed during the expo.