Myanmar is working with Bangladesh to resume cross-border trade and restart maritime connectivity between Yangon and Sittwe ports and Chattogram port, Myanmar Ambassador to Bangladesh U Kyaw Soe Moe said, as the two neighbours explore ways to expand economic cooperation.
The revival of shipping links, along with energy cooperation, direct air connectivity and stronger business engagement, could create new opportunities for trade and investment between the two countries, he said.
The ambassador made the remarks at an exchange of views with leaders of the Chattogram Chamber of Commerce and Industry (CCCI) and business representatives at the World Trade Centre in Chattogram on Wednesday.
“Bangladesh is one of Myanmar’s important neighbours,” Kyaw Soe Moe said, stressing the need for stronger government-to-government and business-to-business cooperation to achieve sustainable development.
He said Myanmar is developing an LNG hub with support from Russia and has undertaken hydropower projects. Given Bangladesh’s energy challenges, stronger bilateral trade relations could allow Bangladesh to import LNG and electricity from Myanmar, he added.
Myanmar could export rice, ginger, rubber and fish to Bangladesh, while Bangladesh has opportunities to export pharmaceuticals, chemicals, garments and other products to Myanmar, the ambassador said.
He also said initiatives were underway to launch direct flights between Yangon and Dhaka and Chattogram.
The ambassador said the proposed China-Bangladesh economic corridor could further strengthen regional connectivity if implemented. He referred to Bangladesh Prime Minister Tarique Rahman’s recent discussions in China on the corridor, saying such initiatives could contribute to closer economic ties among the countries.
Chattogram Chamber President Mohammad Amirul Haque said stronger business relations between Bangladesh and Myanmar were necessary to increase trade and investment between the neighbouring countries.
“Coastal shipping, road connectivity and direct air links between the two countries have no alternative,” he said.
He said Myanmar’s natural resources and Chattogram’s geographical location create opportunities for expanding bilateral commerce. Chattogram port and airport could become important regional connectivity hubs, he added.
Amirul Haque said future implementation of a Bangladesh-Myanmar-China economic corridor could expand bilateral and global trade.
Chattogram Chamber Senior Vice-President Md Amjad Hossain Chowdhury said both countries could achieve sustainable economic growth by utilising their respective capabilities and comparative advantages.
He suggested joint investment by Bangladeshi investors in Myanmar’s agriculture and fisheries sectors as an area of potential cooperation.
Business leaders at the meeting urged Myanmar to help resolve visa complications, complete maritime protocol arrangements and address payment settlement challenges to facilitate trade and investment.
They said mutual trust, open communication and cooperation could create new commercial opportunities between the two countries.
The meeting was attended by business leaders and Myanmar diplomats.
