Despite strained relations between Bangladesh and Myanmar over rehabilitation of Rohingya refugees, the bilateral trade between the two neighbouring countries has been on the rise, competent sources said.
The trade between Bangladesh and Myanmar was recorded at 164.07 million US dollars with Myanmar enjoying the trade surplus during the 2021, according to the United Nations COMTRADE database on international trade.
Myanmar’s exports to Bangladesh stood at US$125.32 million in 2021, while Bangladesh’s exports to Myanmar stood at US$38.75 million during the same period.
Sources said trade volume between the two countries suffered in the last fiscal year 2020-21. But even after that, bilateral trade, especially through land ports, is expected to jump over 225 percent after the completion of the current fiscal 2021-22, according to sources.
The volume of trade between the two countries stood at 185,822.28 tonnes during the July-March period of FY21.
Current trend shows that bilateral trade volume is likely to reach 250,000 tonnes by June 30, 2022. The bilateral trade between the two countries was 202,453 tonnes in FY20.
Goods are being handled through 400-500 cargoes every month, while 2,500-2,600 trucks carry the goods.
Myanmar primarily exports dry fish, chilled fish, ginger, onion, burma teak wood, Garjan wood, plum pickle, red chilies and coconut to Bangladesh.
Bangladesh exports fresh potatoes, cement, apparel, textile wastage, soft drinks, biscuits, live eels and fish to Myanmar.
President of Bangladesh-Myanmar Chamber of Commerce and Industry SM Nurul Hoque said trade between Bangladesh and Myanmar is being primarily completed through the United Land Port Teknaf Limited (ULPTL).
Situated on 27 acres of land on the banks of the Naaf River at the southernmost point of Bangladesh, the ULPTL is a port of transit for goods between Bangladesh and Myanmar.
The volume of trade between Bangladesh and Myanmar were at 74,743 tonnes in FY13, 101,815 tonnes in FY14, 77,654 tonnes in FY15, 76,665 tonnes in FY16, 75,359 tonnes in FY17, 162,578 tonnes in FY18 and 109,248 tonnes in FY19.
In 2007, almost 78,000 tonnes of cargo carried goods, with the same being about 155,000 tonnes in 2008 – a staggering 199 percent growth in cargo handling capacity and capabilities within the span of a year.
