TODAY

Border trade value increases by US$140million this FY

ALTHOUGH the volume of exports via the Muse border has slumped, the value of trade through border areas in this fiscal year has increased by US$140million when compared to the similar period of the last fiscal year, it is learnt.

The trade value as of the last week of August totaled US$2.81billion, whereas that in the same period of the last fiscal year was US$2.76billion. The export through  Muse border as of 26^th August in 2016-2017 fiscal year fetched US$1,331.373million, whereas the import value was US$626.181million which was US$20,000 lower than the previous year. But the export value this year in Muse slumped by over US$114 million.

However, trade value in other trade camps between China and Myanmar has increased more than US$38.12million in Lwe je border trade camp, more than US$89.19million in Chin Shwe Haw border trade camp and more than US$12.41million in Kan Pike Te border trade camp were respectively attained from border trade when compared to figures in the similar period of the last fiscal year.

Similarly, Myawady border trade camp between Myanmar and Thailand earned more US$102.86million. Additionally, trade values of US$1.24million in Kaw Thaung border trade camp; US$2.93million in Htee Khee border trade camp and US$0.59million in Maw Taung border trade camp, US$0.6million in Maung Taw border trade camp and US$13.35million in Tamu border trade camp, US$3.31million in Reed border trade camp were higher than the previous year, it is learnt.

Out of 15 border trade camps of Myanmar, Muse, Keng Tung, Tachilek, Myeik and Sittwe border trade camps are experiencing decreased trade this fiscal year. Despite the rise in the border trade in this fiscal year, the normal trade value has slumped by over US$215million when compared to that of the last fiscal year. The total trade value as of 26^th August amounted to US$10.73 billion, which is US$74million lower than the previous years.

Ref: GNLM, 5 September 2016

Plans explored for fuel oil to be imported using supertankers

EFFORTS are being made to be able to import fuel oil in cargo ships that can carry 30,000 tonnes of oil in an effort to bring down the costs of transportation, said Dr.Win Myint, the secretary of the Myanmar Fuel Oil Importers and Distributors Association.

Currently, fuel oil is mainly imported by Singapore using cargo ships which can carry 15,000 tonnes of cargo oil. Singapore re-exports the fuel oil to Myanmar, resulting in the rise of the fuel oil price.

The oil importers and distributors association is making effort to import oil directly from oil-production countries using high-capacity supertankers, thus saving transportation cost, the association said. In addition, the fuel oil can be distributed in the domestic market at price offered in the importer countries.

Importing the fuel oil costs form US$2.5to US$4 a barrel. About 400,000 tonnes of fuel oil have to be imported monthly, resulting in transportation costs of about US$5million.

The Fuel oil price can be fixed if oil exporting countries directly import the fuel oil to Myanmar with supertanker.

The volume of fuel oil imports have increased year by year: 2.22million in 2012-2013, 2.35 in 2013-2014 and 2.47 million in 2014-2015. Therefore, the distributors and authorities concerned are making attempts to ensure the quality of the fuel oil and reasonable price close to the prevailing international oil price.

Ref: GNLM, 5 September 2016