THE value of bilateral trade
between Myanmar and South
Korea in the first 10 months of
the 2017-2018 fiscal year (FY)
exceeded US$635 million, including
$236 million in exports
and $399 million in imports, according
to figures release by
the commerce ministry.
Rice and broken rice, coffee,
mangoes, pulses, apparel
produced by Myanmar’s garment
sector on cut-make-pack
basis, shrimp and sesame oil,
among other things, are exported
to South Korea, while Myanmar
imports capital goods such
as machinery and equipment,
raw industrial goods such as
fertilisers and garment materials,
and consumer goods such
as cosmetic products.
The value of bilateral trade
between the two countries was
$866 million in the 2016-2017 FY,
$657 million in the 2015-2016 FY,
$862 million in the 2014-2015 FY,
$1.57 billion in the 2013-2014
FY, $623 million in the 2012-
2013 FY, and $667 million in the
2011-2012 FY. A month prior to
the end of the 2017-2018 FY, foreign
direct investments worth
some $251 million were brought
into Myanmar by South Korea.
South Korea is the sixth largest
foreign investor in Myanmar.
Multinational corporations
such as Posco, Daewoo, Samsung
and Hyundai from South
Korea have already grabbed
market shares in Myanmar.
Additionally, the Korea
International Cooperation
Agency (KOICA) has provided
a grant aid for sustainable
rural development and capacity
building in public service,
technology, education and fundamental
infrastructure building.