The recent political unrests in Bangladesh have led to a bad year for border trade with Myanmar, according to local merchants.“Border trade is decreasing. In the fiscal year 2012-13, only 65 percent of trade provisions materialized because of the restive situation in Bangladesh,” said Aung Myint Thein, chairman of Maungtaw Merchants Association.
Communal violence in Rakhine State in 2012 also had a negative impact on cross-border trade but commercial activities were quick to resume. Political unrest in Bangladesh has now taken its toll for local traders.
“In June 2012, there was violence in Maungtaw Township [in Rakhine State, Myanmar]. The industrial and trade activities stopped then, but they resumed after a short period. Later, political unrests occurred in Bangladesh. All of these have led to reduced border trade during the year. Until this year, the situations have not settled yet,” an exporter in Maungtaw said.
The 7th Bilateral Trade Promotion Meeting between Bangladesh and Maungtaw merchants, that had been intended to be held in the third week of May, was also postponed to a later date because of the political situation in Bangladesh.
Merchants of both sides have been meeting every month to discuss trade promotion issues. Maungtaw merchants are currently relying on Bangladesh market to sell their fishery products and bamboo.
Aung Myint Thein said the merchants are expecting a 10 percent increase from last year’s impoverished trade figures in the fiscal year 2013-14. (Source: banglanews24.com)
