Myanmar-India border trade hits $87m in six months

YANGON, Sept 30 (Xinhua): Border trade between Myanmar and India has reached 87 million US dollars as of Sept 21 during the six-month transitional period which started in April this year, according to Myanmar's Commerce Ministry on Sunday.

Myanmar has changed its fiscal year period from original April-March to Oct-Sept beginning 2018-2019, producing a six-month transitional gap. The country's total border trade with India during this period saw sharp increase by 54 million US dollars compared to the same period of the last fiscal year 2017-2018 when it showed 33 million US dollars.

From April to September this year, the country's export to India through border gates totaled 78 million US dollars while its import shared nine million US dollars.

Myanmar has been conducting trade with India via Tamu and Reed border gates.

Meanwhile, Myanmar's Yangon Region Investment Committee (YRIC) has permitted 92 investment enterprises from 10 foreign countries so far, the official Global New Light of Myanmar reported on Sunday.

The enterprises are those from 10 foreign partner countries including China, Singapore, Japan, South Korea and Vietnam.

A total of 129.13 million US dollars from the permitted enterprises entered the manufacturing, hotel services and other services sectors, creating over 43,624 job opportunities in the Yangon region.

Enterprises entering Yangon region's manufacturing are engaged in pharmaceutical manufacturing, vehicles, container boxes, and garment production on Cutting Making and Packing (CMP) basis.