Sino-Myanmar trade boosted with China-ASEAN Expo

NANNING, Oct. 21 (Xinhua) -- Luo Hongbiao was filled with interests in Myanmar market as he flew from southern China's Shenzhen to Nanning to attend the annual China-ASEAN Expo held here from Oct. 20 to 24.

"Though I know little about the country, I believe that Myanmar is a market with huge potential," as a staff with a Shenzhen medical device maker, he made Myanmar his next target after gaining commercial intent with some Vietnamese companies on Oct.20.

"My company has been focusing on the European and American market, and we are now here to explore the southeastern Asian market," he told Xinhua reporter.

Correspondingly, Khin Soe, Director General of Directorate of Myanmar's Investment and Company Administration Business Matching Conference, expressed his hope that Chinese enterprises could come to Myanmar to invest.

Myanmar is rich in natural resources, agriculture, forest and sightseeing, and has great potential in economic development, he said.

Data from the Commerce Department of south China's Guangxi Zhuang Autonomous Region had shown that Sino-Myanmar trade had reached 1.63 billion U.S. dollars in 2008, up 26.4 percent from 2007.

Lwin Ko Ko, who attended the Expo on behalf of Myanmar timber dealers, is also hoping to find more customers at the Expo and sell his products directly to the China mainland market.

For him, the Expo this year is higher in profile, more formal and brings him more business opportunities.

According to Khin Soe, Myanmar has established 19 industrial areas to encourage investment from overseas, and the government would provide as much support as possible to boost trade exchanges.

Known as "the country of Buddha", Myanmar is endowed with rich natural resources in mining, ocean, aquatic products, petroleum, natural gas and hydropower. The country's industries are witnessing rapid development, including oil and natural gas production, machinery manufacturing, textile processing, timber processing, sugar production and papermaking.