YANGON, Aug. 3 (Xinhua) -- Myanmar government will not currently set up a trading zone in Tamu bordering India due to insufficient basic requirement and poor potential trading, a high ranking commerce official told the House of Representatives (Lower House)in Nay Pyi Taw, Myanmar News Agency reported Thursday.
When asked by parliamentarians Wednesday if there is a plan for the move, Deputy Commerce Minister U Aung Htoo replied that Tamu trading point has been opened since 1995 but the trading value has been only 45 million U.S. dollars, accounting for only 0.6 percent of the total trade volume of all border trading points.
For the purpose of promoting trade between the two countries, a series of joint committee meetings related to bilateral trade, border trade and border-market were then held.
The high-ranking officials from both sides also had extensive discussions on opening trade zone in Htantalan in Myanmar's western Chin State and a new trade zone in Pan Khwar, Mizoram State in India.
According to official statistics, Myanmar-India bilateral trade amounted to 1.743 billion U.S. dollars in the last fiscal year 2016-17 as of February with Myanmar's export to India taking 865.948 million dollars and its import from the neighbor representing 877.052 million dollars.
