Despite Bangladesh's icy relation with Myanmar regarding the Rohingya issue, bilateral trade between the two neighbouring countries has been increasing gradually over the years.
Sources said that trade between two countries suffered in the last fiscal year 2020-21. But even after that, bilateral trade, especially through land ports, is expected to jump over 225% after the completion of the current fiscal 2021-22, according to sources.
The volume of trade between two countries stood at 185,822.28 tonnes in July-March period of FY21.
Current trend shows that bilateral trade is likely to reach 250,000 tonnes by June 30.
The bilateral trade between the two countries stood at 78,257.44 tonnes as against 202,453 tonnes in FY20.
Goods are being handled through 400-500 cargoes every month, while 2,500-2,600 trucks carry the goods.
Myanmar primarily exports dry fish, chilled fish, ginger, onion, burma teak wood, Garjan wood, plum pickle, red chilies and coconut to Bangladesh.
Bangladesh exports fresh potatoes, cement, apparel, textile wastage, soft drinks, biscuits, live eels and fish to Myanmar.
President of Bangladesh-Myanmar Chamber of Commerce and Industry SM Nurul Hoque said that trade between Bangladesh and Myanmar is being completed through the United Land Port Teknaf Limited (ULPTL).
Situated on 27 acres of land on the banks of the Naaf River at the southernmost point of Bangladesh, the ULPTL is a port of transit for goods between Bangladesh and Myanmar.
“Winning a tender in 2006 from Bangladesh Land Port Authority enabled us to control operations and management of the port while also signing concession agreement and land lease agreement with the same,” said an official.
“Since then we have undergone both infrastructural and civil development of the area, including earth filling, boundary wall construction, making pontoons, warehouses, approach roads, a passenger jetty, cargo jetty and a rest house among other things. Through significant ongoing investments, ULPTL plans to become a fully comprehensive port unit, providing a one-stop solution for exporters, importers and the government alike” said an official of United Group, one of the largest conglomerates in Bangladesh.
“Everything from timber, fish, rice, grams, pickles and spices imported from Myanmar and cement, garments, jewelry, aluminum products, animal by-products and pharmaceuticals exported from Bangladesh are handled by our capable system. Our motto – perfect time management to ensure that goods spend the least time in transit, effectively increasing business efficiency and profitability for all those involved, “ the official added.
The volume of trade between Bangladesh and Myanmar stood at 74,743 tonnes in FY13, 101,815 tonnes in FY14, 77,654 tonnes in FY15, 76,665 tonnes in FY16, 75,359 tonnes in FY17, 162,578 tonnes in FY18 and 109,248 tonnes in FY19.
In 2007, almost 78,000 tonnes of cargo carried goods, with the same being about 155,000 tonnes in 2008 – a staggering 199% growth in cargo handling capacity and capabilities within the span of a year.