A three-day Myanmar-China border trade fair opened on Wednesday morning in the Muse 105th Mile Border Trade Zone on the Myanmar side.

The 8th Myanmar-China border trade fair, participated by companies and enterprises from both countries, displays products from respective countries at over 200 booths.

Myanmar Deputy Minister of Commerce Brigadier-General Aung Tun and Deputy Head of the Department of Commerce of Yunnan Province of China Zhu Xiaoyang inaugurated the fair by cutting the ribbon.

Head of the Directorate of Border Trade of Myanmar U San Pyae said at the opening ceremony that trade between Myanmar and China has made rapid progress with US$935 million registering for the first 11 months of 2008, up 12.98 percent correspondingly from 2007 which was US$827 million.

He underlined that Muse border trade point stands the biggest out of 11 with neighboring countries, where 70 percent of Myanmar's border trade are carried out.

He disclosed that during the border trade fair period, a meeting of Myanmar-China Border Trade Joint Committee will be convened. Besides, trade consultation between entrepreneurs from both sides, briefing on investment status in Myanmar and signing of many trade-related contracts will also be carried out.

At the ceremony, Chairman of the Muse District Peace and Development Council U Tun Min Zaw said the Muse border trade point has also developed at a fast rate, citing the increase of trade volume at the point from US$482 million in the fiscal year 2005-2006 to US$977 million in 2007-2008.

He pointed out that the development of Muse is aimed at promoting the Myanmar-China bilateral economic and trade ties, providing business opportunity to traders from both sides and enhancing bilateral friendship.

On the occasion, Zhu revealed that China-Myanmar bilateral trade rose 40 percent from US$1.46 billion in 2006 to US$2.057 billion in 2007, adding that the bilateral trade stood US$2.038 billion in the first 11 months of 2008, up 30.3 percent correspondingly.

Zhu also briefed the Yuannan-Myanmar bilateral economic and trade tie status, saying that US$350 million were registered in 2004-2005, US$500 million in 2005-2006 and US$800 million in 2006-07 and the border trade through Yunnan accounted for 60 percent of China-Myanmar bilateral trade.

Zhu stressed that Yunnan would like to enhance the cooperation with Myanmar in the sectors of energy, mining, agriculture, fishery, forestry, tourism and culture, while inviting Myanmar businessmen to take part in the development of China's western part including Yunnan Province.

Since 2001, Myanmar-China border trade exhibitions have been held annually and alternately in respective border towns and the last event was in December 2007 in China's Jiegao, Ruili, a Chinese border town in southwestern Yunnan Province linking Myanmar's Muse.

(Xinhua News Agency December 17, 2008)