Economic Reporter :
Border trade between Bangladesh and Myanmar remains closed as the traders are worried about their security after the Rohingya crisis broke out.
Officials said the Bangladesh government has also suspended efforts to enhance trade with Myanmar after the crisis worsened in the neighbouring country, said officials.
“We planed to increase annual trade between Bangladesh and Myanmar to Tk10,000 crore within a few years from less than Tk6,000 crore now. But we dropped the efforts after the latest persecution on the Rohingya crisis began,” said a Ministry of Commerce official.
Commerce Minister Tofail Ahmed, however, said they had no plan to cut economic ties with Myanmar.
“The Maldives cut economic ties with Myanmar, but Bangladesh cannot do that. We have a wide trading link with the neighbouring country,” he said.
“We import essential goods like rice and onion from Myanmar. When there is a supply crunch, for example during Ramadan, we import goods from Myanmar,” he added.
Bangladeshi traders said the border trade between the two countries is now closed although fish import from Myanmar continues.
Founder President of Bangladesh-Myanmar Chamber of Commerce and Industry KB Ahmed confirmed it.
“However, there is an impact on informal trade between the two countries after the crisis began,” he said.
Meanwhile, during his visit to Myanmar last week, Food Minister Qamrul Islam settled a deal to import 100,000-300,000 tons of rice from Myanmar on a government-to-government (G2G) deal to meet shortage of food.
Former caretaker government finance adviser AB Mirza Azizul Islam thinks this is not a good idea.
“Such rice import will give a boost to the Myanmar trade. This will create a bad image for Bangladesh,” he said.
About the foreign investment in the crisis-hit Rakhine state, KB Ahmed said the state is a “potential source of energy resources” while the Myanmar and Chinese governments have already invested huge amounts of money in these areas.
“An island near Rakhine state abounds with the Chinese investment. An airport has already been built there while a railway line is being constructed,” he added.
Earlier this year, the Union government of Mynamar planned to build a trading zone in the Rakhine state on the border with Bangladesh.
Border trade between Bangladesh and Myanmar remains closed as the traders are worried about their security after the Rohingya crisis broke out.
Officials said the Bangladesh government has also suspended efforts to enhance trade with Myanmar after the crisis worsened in the neighbouring country, said officials.
“We planed to increase annual trade between Bangladesh and Myanmar to Tk10,000 crore within a few years from less than Tk6,000 crore now. But we dropped the efforts after the latest persecution on the Rohingya crisis began,” said a Ministry of Commerce official.
Commerce Minister Tofail Ahmed, however, said they had no plan to cut economic ties with Myanmar.
“The Maldives cut economic ties with Myanmar, but Bangladesh cannot do that. We have a wide trading link with the neighbouring country,” he said.
“We import essential goods like rice and onion from Myanmar. When there is a supply crunch, for example during Ramadan, we import goods from Myanmar,” he added.
Bangladeshi traders said the border trade between the two countries is now closed although fish import from Myanmar continues.
Founder President of Bangladesh-Myanmar Chamber of Commerce and Industry KB Ahmed confirmed it.
“However, there is an impact on informal trade between the two countries after the crisis began,” he said.
Meanwhile, during his visit to Myanmar last week, Food Minister Qamrul Islam settled a deal to import 100,000-300,000 tons of rice from Myanmar on a government-to-government (G2G) deal to meet shortage of food.
Former caretaker government finance adviser AB Mirza Azizul Islam thinks this is not a good idea.
“Such rice import will give a boost to the Myanmar trade. This will create a bad image for Bangladesh,” he said.
About the foreign investment in the crisis-hit Rakhine state, KB Ahmed said the state is a “potential source of energy resources” while the Myanmar and Chinese governments have already invested huge amounts of money in these areas.
“An island near Rakhine state abounds with the Chinese investment. An airport has already been built there while a railway line is being constructed,” he added.
Earlier this year, the Union government of Mynamar planned to build a trading zone in the Rakhine state on the border with Bangladesh.
