2013 target for fishery exports set at $700m
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Myanmar has set a target of US$700 million (about Bt21 billion) in revenue from fishery exports for fiscal 2013, the same target as for the previous year, according the Department of Fisheries. The target was unmet in 2013.
The country is expected to earn $260 million from border trade of fishery products and $440 million from normal sea trade this year, according to a report by the department.
From April 1 to 28, fishery exports earned a total of $42 million: $19.41 million from border trade and $23.54 million from sea trade.
In fiscal year 2012, actual earnings from fishery exports fell a little short of the target, reaching only $652.84 million.
Market improves
Fishery exporters, however, hope for better market conditions this year as Western countries have eased sanctions against Myanmar to support its reform process towards democracy.
Myanmar fishery exporters are raising the quality standards of their products, as they prepare to compete more aggressively in the European market.
The European Union will restore the Generalised System of Preferences (GSP), a system which gives tax advantage to imported goods from poor countries, for Myanmar in June, Han Tun, vice chairperson of the Myanmar Fishery Federation, said last week.
“EU will begin GSP [for Myanmar products] in June. We have been exporting fish and prawns to the EU.
But, it would be better when the GSP starts. Now, we are preparing the quality of our products to meet international standards,” he said.
Exporters are also hoping for GSP privileges from the United States, as they have recently resumed trade with US companies, he added.
