Vietnam’s fertiliser exports to Myanmar are expected to rise sharply in the coming time as Vietnamese exporters can directly conduct international payments.

With a vast acreage of farmland and forest, Myanmar has to import about 1.5 million tonnes of fertiliser each year, said General Director of the Phu My Fertiliser JSC (DPM) Cao Hoai Duong.

The figure is expected to grow when the Myanmar Government is seeking to raise the country’s agricultural output, he said, adding that Myanmar is considered a potential market for Vietnam’s fertiliser exports.

However, he noted, exports to the market have been hindered by a range of problems relating to international payments which have been conducted through Hong Kong or Singapore.

According to Duong, domestic fertiliser output is forecast to reach 2.3 million tonnes per year while the yearly demand is only 300,000 tonnes.

Therefore, since 2012, DPM has carried out an array of activities to seek markets for fertiliser and Myanmar is a target in addition to the existing markets of Cambodia, Indonesia, Malaysia and the Philippines, he said.

He also revealed that the Myanmar Ministry of National Planning and Economic Development’s Business and Investment Management Department granted a licence to DPM to set up its representative office in the country.

The office will promote Vietnam’s image, trademarks and products while assisting export activities and promoting trade between the two countries.

In the first half of this year, DPM produced about 438,000 tonnes of nitrogenous fertiliser, ensuring stable supplies for this year’s winter-spring and summer-autumn crops.-VNA