Bangladesh Mission in Yangon, Myanmar has suggested importing sugar from Myanmar to meet the domestic demand.
According to news report published in The Financial Express, the Bangladesh High Commission recently requested the Ministry of Commerce to take necessary steps in this regard.
It believes that the neighbouring country of Myanmar becomes an alternative import source of the sugar for Bangladesh. The report indicates that Myanmar currently produces small volume of sugar annually and still has surplus sugar even after fulfilling its local demand.
On August 8th, a meeting took place between the Bangladesh Mission and the Myanmar Sugar and Cane Related Products Association (MSCA). The meeting discussed potential import agreements, including government-to-government (G2G), government-to-business (G2B), and business-to-business (B2B) deals.
After meeting its local demand, Myanmar exports the remaining sugar to countries like Vietnam and the Philippines.
Bangladesh usually imports a large volume of its sugar from its neighboring country, India. However, recent restrictions imposed by India on sugar exports have left Bangladesh seeking alternative sources for sugar imports.
