Muse border town is becoming a place for facilitating trade and cooperation in levying tariff between Myanmar and China. This was stated by companies attending the the 6th China-ASEAN trade fair being held in Nanning, capital of southwest China’s Guangxi Zhuang Autonomous Region.
There were 242 entrepreneurs of 83 companies taking part in the five-day trade fair, and it covered everything from agriculture, fishery, industry, manufacturing, gems, traditional handicrafts, forestry and hotel and tourism.
Since joining the China-ASEAN trade fair in 2004, Myanmar featured the commercial hub of Mandalay. In the second trade fair, the tourism site of ancient city of Bagan. In the third fair, the port city of the former capital, Yangon. In the 4th fair, the cyber city of Yadanarpon.
In December last year, a three-day Myanmar-China border trade fair was held in the Muse 105th Mile Border Trade Zone on the Myanmar side, where 70% of Myanmar’s border trades are carried out.
According to Chinese official statistics, China-Myanmar bilateral trade amounted to $2.626 billion in 2008, up 26.4%.
China’s contracted investments in Myanmar reached $1.331 billion by the end of 2008, of which mining, electric power, oil and gas took $866 million, $281 million and $124 million, repectively.
China View reported that China now stands 4th in Myanmar’s foreign investment line-up.