YANGON - Chinese commodities accounted for 80 percent of Myanmar's import, varying from electronic devices, cement, paint, flour, iron and iron products to raw materials for soap, the local Biweekly Eleven quoted a trading company as reporting in this week's issue.
These commodities are also imported from Thailand, Malaysia, India, Japan and Australia through sea-borne trade.
China's export goods possess high quality and available at reasonable price, the report said.
Bilateral trade between China and Myanmar hit $2.91 billion in 2009-10, of which China's export to Myanmar stood $2.26 billion, while its import from Myanmar represented $646 million, according to official statistics.
Up to January 2010, China's investment in Myanmar amounted to $1. 848 billion, accounting for 11.5 percent of Myanmar's then total foreign investment. In the month of May, China made a huge investment in Myanmar with a total of $8.173 billion including Hong Kong's $3.143 billion, bringing China's total investment in Myanmar to $10 billion up to May this year since the country opened to such investment in late 1988, the Myanmar official statistics reveal.
China is also inviting Myanmar companies to establish a foothold in the Chinese market to promote export and encouraging strong Chinese companies to make investment in Myanmar for the economic growth of the country.
China is Myanmar's second largest trading partner for long and the third largest investor now.
