Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Fishery exports break 20-year record, could double within two years, in MyanmarTuesday, April 10, 2018 > 11:11:13
Myanmar exported over 560,000 tonnes of fishery products in 2017-18, the highest in 20 years, according to data provided by the Ministry of Agriculture, Livestock and Irrigation (MOALI). At those levels, the exports are worth $711 million.
That could more than double to $2 billion-$3 billion within the next two years, if the right technology, resources and equipment are deployed, said U Htay Myint, chair of the Myanmar Fishery Federation. This includes developing ponds for aquaculture, processing factories and cold storage facilities.
The Ministry of Planning and Finance has agreed to provide funds of up to K100 billion to develop the supply chain and modernise the aquaculture process, U Htay Myint said.
Earlier this year, MOALI launched dialogues for the drafting a National Aquaculture Development Plan to preserve the country’s fish supplies.
This is because while 65pc of Myanmar’s fishery production is derived from the wild, that is depleting fast as a result of overfishing and pollution.
As such, the plan will include strategies to leverage on Myanmar’s 3,000-mile coastline and large estuarine delta systems to develop its aquaculture industry.
The government has so far provided support by extending loans to small and medium fishery enterprises. Meanwhile, the Yangon Region Government is cooperating with local businesses to build fishery breeding zones in Kayan Township, Thone Gwa Township and Kyauk Tan Township of Yangon Region, according to Myanmar Fishery Federation.
Myanmar fishery products are mainly exported to China, Thailand, Singapore, Malaysia and some European countries.
In 2016-17, the country exported over 430,000 tonnes of fishery products worth $600 million overseas, according to MOALI. It exported 358,000 tonnes worth $500 million in 2015-16.