Myanmar-EU trade hit 1.35 bln USD in 7 months

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Trade between Myanmar and European Union’s member countries reached 1.35 billion U.S. dollars in first seven months of present fiscal year 2017-2018, the official Global New Light of Myanmar reported Tuesday.

The country’s export to EU member countries amounted to 893 million U.S. dollars while its import reached 459 million U.S. dollars, according to the statistics of the Commerce Ministry.

The country’s trade with EU nations was 1.42 billion U.S. dollars in last FY 2016-2017.

The country mainly exports rice, pulses, tea leaves, coffee, apparel from garment sector and fisheries.
Cosmetic, food and beverages and consumer goods are usually imported into the country.

Investments from EU member countries mainly enters the country’s petroleum and natural gas enterprises, manufacturing, transportation, hotels and tourism and livestock sectors.

Myanmar can enjoy Generalized Scheme of Preference (GSP) for export of fisheries, rice, pulses, agro products, bamboo and rattan finished products, forestry products, apparels and finished industrial goods as the country reinstated EU’s GSP since July 19, 2013.

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