Maungdaw: The Burmese military junta plans to build a trade centre in Maungdaw, a western border town, to boost trade with Bangladesh, said a businessman.
"The Western Command Commander General Thaung Aye has arrived in Maungdaw to inspect the plot of land where the trade centre will be built," he said.
General Thaung Aye arrived in Maungdaw on Saturday along with his wife, and discussed the construction of the trade centre with senior officials in Maungdaw District.
"The Burmese regime is likely to spend 400 million Kyats for the trade centre project, and the funds will be lent by the Husbandry and Marine Ministry," the businessman said.
Local business sources in the region said the Burmese military government is now trying to salvage the economy of Arakan State, which has been deteriorating for years now because of myriad factors. Many businesses ventures and industries in the state have been suffering from heavy financial losses.
"The trade centre will sell agricultural products and marine resources, including shrimp products to Bangladesh. And Bangladesh businessmen will be invited to buy the products from the centre," the businessman added.
The military authorities have selected a large plot of land near a boat jetty in Maungdaw and construction on the project is expected to start very soon.
According to local business sources, the shrimp industry in Arakan State has been hit hard over the last few years since Singapore refused to import shrimp from Burma after the US government imposed stricter sanctions on Burma.
After exports to Singapore were stopped, shrimp from Arakan was exported to Bangladesh, but the trade suffered losses due to problems including communication difficulties and lack of proper facilities.
"It has not only affected Arakanese businesses, but it has also affected state revenue, so the authorities want to promote marine products trade with Bangladesh," said the businessman. The trade centre will focus on the sale of marine products to Bangladesh.
During General Thaung Aye's trip to Maungdaw he is expected to also inspect some parts of the friendship road between Burma and Bangladesh that will be constructed in the future.
