“Trading is one of the main sources of income in an open-market economy and Sagaing region produces large volumes of export-oriented goods such as crops, fishery products, jewelry, mined minerals, garments and traditional handicraft, making it a potentially reliable source of exports for the country,” said U Aung Htoo, Deputy Union Minister of Commerce.

For example, Sagaing exports at least half of Myanmar’s watermelon and musk melon produce to China, he said.

Sagaing also serves as an ideal commerce hub for traders from neighbouring India, Thailand and China. As such, the government should work with the private sector to support and promote trade and investment in Sagaing, U Aung Htoo told The Myanmar Times during a workshop in Monywa City Hall, Sagaing.

The workshop also represented progress towards extending more responsibilities to state and regional authorities and incentivising them to participate in unlocking Sagaing’s export potential from the Union level.

U Aung Htoo also stressed the importance of ensuring that activities carried out at the state and region level are well-coordinated with the National Export Strategy.

Export potential

Focus on promoting Sagaing’s exports also comes after India implemented import tariffs on beans and pulses from Myanmar in August.

As beans and pulses are among Sagaing’s top exports, the regional government needs private sector investments and support to help farmers add value to their crops as well as diversify, U Aung Htoo said during an interview with The Myanmar Times.

While Sagaing is also the country’s top producer of sugar cane, investments are needed to build sugar mills and support businesses along the rest of the sugar supply chain.

Businesses also need storage facilities and better infrastructure to reduce production costs and become more productive, said U Aung Htoo.

Sector focus

U Soe Oo, Minister of Planning and Finance, Sagaing Region, said the regional government will focus on promoting agriculture. With more investments, “we can expand our current cultivation levels by 1.5 times,” he said. “We are hoping to attract investments towards adding value to our crops.”

Meanwhile, support will also be given to developing infrastructure such as roads and power lines. “By 2019, we hope to meet the electricity needs of the whole region,” he said.

With better infrastructure and connectivity, the government also hopes to further promote tourism in Sagaing. “We have already set up six tourist zones in the region,” he said.

Meanwhile, DICA also opened an office in Sagaing this year to facilitate trade and investments.

The workshop was organised by the Ministry of Commerce, Sagaing State government, DFID and the DaNa Facility.

In addition to comprehensive workshop sessions on related topics, around 35 Sagaing businesses also displayed products ranging from fruits and vegetables and handicrafts to textiles, building materials and hand-made guitars.

“Trade and investment are essential if we are to see the full potential of businesses realised and more jobs and income created for the poor and disadvantaged in Myanmar,” said Peter Brimble, team leader at the DaNa Facility.

Source: https://www.mmtimes.com/news/unlocking-sagaings-export-potential.html