Leaders of Myanmar business circle have stressed the need for enhancement of agricultural cooperation between China and Myanmar to jointly cope with new challenges posed by the establishment of China-ASEAN Free Trade Area (FTA).
The views were revealed by U Win Myint, president of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) , U Zaw Min Win, UMFCCI vice president, and Dr. Maung Aung, an expert on FTA, in an exclusive interview with Xinhua after the establishment on Friday.
U Win Myint said the trade opportunities between China and Myanmar would sharply increase and would also pose at the same time greater
challenges as a result.
Myanmar has the superiority of agricultural resources while China possesses agricultural expertise, which paves way for intensifying
cooperation in the agricultural sector, he noted.
Dr. Maung Aung pointed out that Myanmar is rich in land resources with much cultivable land and potential in agricultural development which can generate more agricultural produces for export.
Noting that the trade development between Myanmar and China has become rapid in recent years, he pointed out that border trade dominated
Myanmar-China bilateral trade.
The one-stop service rendered at Myanmar's Muse 105th Mile Border Trade Zone has brought about rapid development of Myanmar- China bilateral trade, he said.
U Zaw Min Win said China stands as Myanmar's main trading partner. "The establishment of China-ASEAN FTA benefits our two countries. China has much technical knowhow, especially in agriculture, while Myanmar needs such expertise and investment. We welcome China's investment in our agriculture to strengthen the two countries' agricultural cooperation," he added.
U Win Myint said, after China-ASEAN FTA establishment, Myanmar obtains more opportunities on the one hand, while on the other hand competitions also increase with the sectors of manufacturing and agriculture.
U Zaw Min Win held that more foreign investment may pour in Myanmar following the FTA establishment and Myanmar would obtain more technical knowhow for development which will raise processed and value-added export, thus increasing the export volume.
Speaking of coping with FTA challenges, U Win Myint said there are so many sub-organizations under the UMFCCI, citing the Rice Dealers' Association, Rice Millers Association and Beans Entrepreneurs Association.
"We have formed respective leading committees of them, cooperating with the government and companies, jointly providing loans to farmers, transferring technical knowhow and distributing good species, fertilizer and
pesticide."
U Win Myint stressed that through tireless efforts, Myanmar's agricultural output would increase with the quality going up. He went on to
note that Myanmar is the second largest beans exporting country after Canada and it could maintain such superior status.
U Zaw Min Win added that the UMFCCI is working hard by launching training courses, seminars in order to grasp the opportunities resulting from the FTA to deal with the FTA challenges.
The UMFCCI officials and experts held that the successful establishment of China-ASEAN FTA contributes significantly to Myanmar's economic development and China-ASEAN development.
Agriculture represents the mainstay of Myanmar's economy, involving over 70 percent of the country's 57.37-million population and contributing 40 percent to its gross domestic product.
Myanmar's cultivable land covers 18.42 million hectares with paddy as its main crop. The country also stands as one of the main beans and pulses exporting countries in the world, exporting 1.5 million tons of the crop annually.
The Association of Southeast Asian Nations (ASEAN) groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore,
Thailand and Vietnam.