Dhaka-Yangon direct trade link sought

The leaders of Chittagong Chamber of Commerce & Industry (CCCI) yesterday stressed the need for taking all necessary measures to remove all the barriers to establishing a direct trade link between Bangladesh and Myanmar.
They said all trade between the two countries should be done directly without using a third location.
They were speaking at a meeting between a business delegation from Myanmar and CCCI, organised by the chamber here.
National Planning and Economic Development Minister of Myanmar Soe Tha, Commerce Minister Brig Gen Tin Naing Thein and Immigration and Population Minister HZU Thaung represented the Myanmar side.
Meanwhile news agency UNB reported that Myanmar's apex trade body signed a memorandum of understanding (MoU) with Chittagong chamber to expand communications and trade and commerce between private sectors of the two countries.
President of the local chamber Saifuzzaman Chowdhury and President of the Federation of Chamber of Commerce and Industry of Myanmar U Win Myint signed the MoU.
Saifuzzaman urged the delegation to take steps to help remove different barriers existing in both counties' banking and shipping sectors and establish a direct air link between the countries to enhance bilateral trade.
Bilateral trade and investment are not satisfactory, he added.
Bangladesh exported goods worth US$ 5.16 million and US$ 6.31 million to Myanmar in the fiscal years 2005-2006 and 2006-2007 respectively, the CCCI president said, adding that the country's imports from Myanmar were worth US$ 26.57 million and US$ 20.56 million in the two respective financial years.
He said all the trades are being done through a third location like Singapore and unofficial channels.
Saifuzzaman urged to take immediate steps for updating the already expired coastal and maritime shipping agreement between Bangladesh and Myanmar and launching route for non-conventional vessels between the countries' ports.
Terming the banking procedures and rules in Myanmar cumbersome and rigid for international trade, he emphasised easing the rules under border trade agreement.
He also pointed to the 'tremendous harassment and problems' faced by the Bangladeshi businesspeople in obtaining visas to visit Myanmar.
Commerce Minister of Myanmar Brig Gen Tin Naing Thein assured that his government would take necessary steps so Bangladeshi businessmen get visas easily. He also gave assurance to take measurers for renewal of shipping agreement and a direct air link between the two countries.
He urged the local businessmen to export medicine, leather, leather goods and construction materials to Myanmar to a large extent.