Myanmar, Indonesia seek direct trade link

www.chinaview.cn, 2009-03-29 10:39:54

YANGON, March 29 (Xinhua) -- Myanmar and Indonesia are seeking direct trade link, direct banking transaction and direct Yangon-Jakarta air link to boost their bilateral economic and cooperation, the leading local weekly Yangon Times reported in this week's issue, quoting Indonesian official sources.

So far, the two countries are trading through Malaysia, carrying out banking transaction through Singapore and connecting without direct air link.

The report also quoted the two countries' businessmen as saying that Indonesia imported from Myanmar beans and pulses, onions and marine products, while it exported to Myanmar in return crude oil, cigarettes, and medicines.

Indonesia's beans and pulses import from Myanmar amounted to 20,000 tons annually, the report added.

Indonesia is Myanmar's fourth largest trading partner among members of the Association of Southeast Asian Nations (ASEAN) after Thailand, Singapore and Malaysia, having a bilateral trade of 235.09 million U.S. dollars with Myanmar in 2008. Of the total, Indonesia’s exports to Myanmar amounted to 209.03 million dollars, while its imports from Myanmar were valued at 26.06 million dollars, according to Myanmar official statistics.

Meanwhile, Indonesia's investment in Myanmar has so far reached over 241 million dollars since late 1988 when Myanmar opened to such investment, standing the 9th among Myanmar's foreign investors.

Editor: Deng Shasha