China may soon ink a new banana trade deal. Deputy Minister of Commerce U Aung Htoo announced that the two country’s are in talks to sign an agreement for China to import large quantities of Myanmar bananas, adding that fruit to the list of high-volume agriculture products China already buys from its southern neighbor.
“Two experts from China recently conducted a field study in Myanmar regarding banana export and both countries intend to sign a memorandum of understanding for the official exports of bananas from Myanmar to China,” the Myanmar Times quoted U Aung Htoo as saying. The official was speaking at a session of the Upper House.
China is the largest trade partner for Myanmar agriculture products, which are in turn its primary export. However, demand from China has been somewhat fickle this year, with prices wavering recently for products such as watermelons and cattle. On the other hand, both countries have made steps to secure higher and more consistent trade. A Chinese state-owned enterprise recently announced plans to invest USD 130 million in three agricultural centers in Myanmar. Earlier this year, China signed an MOU to import 250,000 tonnes of Myanmar rice.
Bananas may be only the start, said U Aung Htoo: “We have held talks with the General Administration of Customs of the People’s Republic of China for official exports of banana, avocado, pear, lime, pineapple, pomelo, roselle, cardamom, white jute, gum tragacanth, and elephant foot yam to China.”