Myanmar Seeks to Increase Export Volume to Nepal
17 May 2018
The Governments of Myanmar and Nepal are planning to sign a Memorandum of Understanding to boost their economic ties and increase trade. Myanmar-Nepal bilateral trade reached approximately $8 million in fiscal year 2017-2018.
According to Myanmar Vice President U Myint Swe, Myanmar is seeking to increase its export volume to Nepal. Trade between Myanmar and Nepal is still quite low owing to cost of transport between the two countries.
Nepal started importing beans and pulses from Myanmar last year. Mr. Bhim K. Udas, Ambassador of Nepal to Myanmar, noted that demand for beans and pulses from Myanmar is on the rise in Nepal because of their quality and affordability.
The Myanmar Pulses, Beans, and Sesame Seed Merchants Association is eyeing to maximize this demand, and plans to send representatives to the Himalayan country to gain a better understanding of the market.
Myanmar will promote Nepalese products, such as carpets and tea, in the country, in return.
- Myanmar, Nepal to boost trade
- Embassy of Nepal in Myanmar News Release
- SASEC: Myanmar Country Page
- SASEC: Nepal Country Page