In 2019, total bilateral trade between Taiwan and Myanmar amounted to US$312 million for a decrease of 8.77% from the previous year. Of this, Taiwan’s exports to Myanmar amounted to US$242 million, with major exports consisting of woven fabrics of synthetic filament yarn, knitted or crocheted fabrics, other fabrics which were injected, coated, covered or laminated with other plastics, feather and parts of feathers, flat-rolled products of iron or non-alloy steel, etc. Myanmar’s exports to Taiwan amounted to US$70 million, with major exports consisting of oil seeds and oleaginous fruits, wood, dried and shelled leguminous vegetables, suitcases and briefcases, lenses, etc. Thus, Myanmar ranks as Taiwan’s 61st largest trading partner.
Taiwan’s cumulative investment in Myanmar between 1952 and 2019 amounted to US$223 million, mainly in the sectors of finance and insurance, plastic products manufacturing, textiles, and basic metals manufacturing.
To further deepen collaboration in smart industries, Taiwan invited businesses and industries from Myanmar to organize a delegation to attend the Smart City Summit & Expo in March 2019, during which the “2019 Myanmar Taiwan Cooperation Forum” was held on 26 March. This included seminars, visits to the Expo and IoT Industry Park, and business networking events. Online events in 2020 will be organized to further promote exchanges and cooperation among our respective academia, governments and businesses to foster smart industry cooperation between Taiwan and Myanmar.