Bangladesh sees potential in Myanmar for exports

Bangladesh sees potential in Myanmar for exports
Published: 07 January 2010

Bangladesh producers see Myanmar as potential destination for their products as huge development work is taking place in the states close to Bangladesh-Myanmar border.

One local cement-maker – Premier Cement – has already started shipment of the building material to Myanmar, while the others are either in the negotiation or planning phases to export the item.

Currently, around five local cement-manufacturing companies are also exporting cement to India in a bid to expand export market and help reduce trade gap between the two countries.

"We’re exporting 20,000 bags each month but the demand is even higher," Amirul Haque, managing director of Premier Cement told the Financial Express on Tuesday.

He also said Myanmar companies want at least 20,000t of cement each month saying: "I cannot supply the quantity, as we have limited production capacity."

Jahangir Alam, managing director of MI Cement said: "I’ve also exported a small quantity of cement few months back."

An official of Aramit Cement said many exporters who do not produce cement are also exporting cement to Myanmar on regular basis. Such exporters are procuring cement from plants located in Chittagong and its surrounding areas.

Mustafa Haidar, director of Premier Cement, said Myanmar construction firms consider sourcing of cement from Bangladesh as cost effective. But, he said international payment system cannot be applied in transferring money, as Myanmar lacks formal banking arrangements with Bangladesh.

Source: Financial Express (Bangladesh)