Myanmar-China border trading point to be reopened next month

YANGON, July 29 (Xinhua) -- Kambaiti, a Myanmar-China border trading point in the northernmost Kachin state suspended about two years ago, will be reopened early next month for normal trading activities, the local weekly Yangon Times reported Wednesday.

The reopening of the Kambaiti border trading point will facilitate export of eel from the Myanmar side.

The Kambaiti and Laizar trading point were temporarily closed in June 2006.

Myanmar has five main border trading points with China, namely Muse, Lwejei, Laizar, Chinshwehaw and Kambaiti.

Myanmar mainly exports agricultural and marine products to China.

According to Chinese official statistics, China-Myanmar bilateral trade amounted to 2.626 billion U.S. dollars in 2008, up 26.4 percent.

Till the end of 2008, China's contracted investments in Myanmar reached 1.331 billion dollars, of which mining, electric power and oil and gas respectively took 866 million dollars, 281 million dollars and 124 million dollars. China has become Myanmar's 4th largest foreign investor.